Free Trial

TECHS: 1.30 Holding Today USDCAD......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 1.30 Holding Today
USDCAD briefly broke below the 1.30 level yesterday but the bulk of losses were
recovered into the close, keeping the outlook neutral for now. Bears need to
push below yesterday's low at 1.2970 to bring the 16-Oct low/38.2% retracement
from Sep lows to Oct highs and 200-dma into play at 1.2917/16/14. Below here
opens the 50% fibo of 2018 range at 1.2819, ahead of the Oct 1 low at 1.2789.
Bulls need to move back above the 100-dma at 1.3066/71 to regain control.

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.