Free Trial

TECHS: 200-DMA Continues To Cap.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 200-DMA Continues To Cap
*RES 4: $1.2759 - 21-DMA
*RES 3: $1.2724 - Daily Bear channel top off 2018 high
*RES 2: $1.2629 - 100-DMA
*RES 1: $1.2623 - 200-DMA
*PRICE: $1.2581 @ 0930GMT
*SUP 1: $1.2528 - Low Apr 17 
*SUP 2: $1.2482 - Bollinger band base 
*SUP 3: $1.2457 - Daily Bear channel base 
*SUP 4: $1.2451 - Alternating daily support/resistance
*COMMENTARY: Bears take comfort in consolidation below the 200-DMA with
immediate focus on $1.2451-57 where the daily bear channel base is noted. Bears
need a close below $1.2451 to initially target $1.2255 2018 lows. The Bollinger
base is the key concern for bears with potential to limit follow through. Bulls
look for a close above the 200-DMA to gain breathing room and above the 21-DMA
to shift initial focus to $1.2817-46.

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.