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TECHS: Adds to Recent Rally

DOLLAR-CANADA
  • RES 4: 1.3545 200-dma
  • RES 3: 1.3450 2.0% 10-dma envelope
  • RES 2: 1.3421 High Sep 30 and primary resistance
  • RES 1: 1.3390 High Oct 29
  • PRICE: 1.3349 @ 16:54 GMT Oct 29
  • SUP 1: 1.329 High Oct 15 and recent breakout level
  • SUP 2: 1.3180 Low Oct 28
  • SUP 3: 1.3109/3081 Low Oct 23 / Low Oct 21 and the bear trigger
  • SUP 4: 1.3047 Low Sep 7

USDCAD started the week on a firm note, which extended further Thursday. This cemented the break of key S/T resistance at 1.3259, Oct 15 high as well as 1.3341, Oct 7 high. This signals scope for a climb towards 1.3421, Sep 30 and primary resistance. Initial firm support is seen at Wednesday's low of 1.3180. A break of this level is required to undermine the developing bullish tone.

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