Free Trial

TECHS: 55-DMA In Focus USDCAD.........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: 55-DMA In Focus
USDCAD comfortably holds below the 1.34 level, underpinned by firmer oil prices.
This brings the 38.2% retracement & 55-dma back into view at 1.3328/00, below
here opens the 200-dma & uptrend support at 1.3181/55. Bulls need to recover
1.34 to stabilise the outlook, putting the focus back on the Mar 6 high at
1.3468. Above here opens the Jan 4 high & 76.4% retracement at 1.3496/1.3524,
while the inverse head and shoulders target comes in around 1.36.

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.