Free Trial

TECHS: Bearish conditions persist:....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bearish conditions persist:
*RES 4: 1.3432 High Jun 18
*RES 3: 1.3383 High Sep 3 and key resistance
*RES 2: 1.3345 High Sep 4
*RES 1: 1.3246 High Sep 5
*PRICE: 1.3171 @ 05:05 GMT Sep 10
*SUP 1: 1.3139/32 Low Sep 9 / 1.0% 10-dma envelope
*SUP 3: 1.3120 3% Lower Bollinger Band
*SUP 4: 1.3103 76.4% retracement of Jul 19 - Sep 3 rally
*SUP 4: 1.3016 Low Jul 16
USDCAD maintains a bearish tone with Monday's session confirming a fresh low
print at 1.3139. The weaker outlook follows last week's solid bearish candle
that highlighted a reversal in sentiment. The break of the 1.3156 key Fibonacci
retracement signals scope for a deeper decline and opens the 1.0% 10-dma
envelope at 1.3132 plus the 1.3108, 76.4% retracement level. On the upside,
1.3246 marks resistance.

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.