Free Trial

TECHS: 1.35 Key at The Close..........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 1.35 Key at The Close
Despite breaching 1.35 yesterday for the second consecutive session, USDCAD
failed to consolidate gains and now gives more importance to this key level on a
closing basis. Bulls target a break of the Apr 24 high & 76.4% retracement level
of the Dec - Jan fall at 1.3521/24. Above here would put the focus back on the
Dec 31 high at 1.3665. To the downside, bears need to clear the 1.34 level &
100-dma at 1.3344. A close below the 55-dma at 1.3331 would shift the outlook
negative, opening the March 19 low & triangle base at 1.3251/48.

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.