Free Trial

TECHS: 50-DMA Resistance Keeps........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 50-DMA Resistance Keeps Downtrend Intact
USDCAD was unable to break back above its 50-dma yesterday which keeps the
downtrend from the Sep 6 high intact. Bulls need to break above the 50-dma at
1.3017 to challenge the Sep 27 high and attempt to turn the down trend channel
from the June highs into a bull flag. Bears need to press back through the
200-dma at 1.2879 and challenge 1.2800 to keep hopes of a topping pattern alive.

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.