Free Trial

TECHS: $1.2805-$1.2775 Forms Key......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: $1.2805-$1.2775 Forms Key Near Term Support
*RES 4: $1.2941/44 Mar 29, Apr 2 highs
*RES 3: $1.2916 2% volatility band
*RES 2: $1.2897 61.8% Fibo of $1.3125-$1.2528
*RES 1: $1.2862 Intraday high
*PRICE: $1.2830 @0911GMT
*SUP 1: $1.2795/05 Hourly support
*SUP 2: $1.2775 Hourly base Apr 23
*SUP 3: $1.2718/25 Hourly basing area Apr 20
*SUP 4: $1.2676/86 Apr 19 high, initial rally high Apr 20
*COMMENTARY* The rally has extended through the potentially troublesome
$1.2846-$1.2848 region, a high of $1.2862 seen so far, before becoming
overbought in the near term. As a consequence, looking to $1.2805-$1.2775 to
form support, if a further rise is to happen at this juncture. If so, then look
to the 61.8% Fibo retrace level at $1.2897 next, ahead of the 2% volatility band
at $1.2916. Loss of $1.2775 will open up a correction of gains from $1.2528.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.