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TECHS: Bearish Threat Still Present

DOLLAR-CANADA
  • RES 4: 1.3646 High Jul 14 and key S/T resistance
  • RES 3: 1.3588/3600 50-day EMA / High Jul 20
  • RES 2: 1.3537 High Jul 21
  • RES 1: 1.3445/91 High Jul 24 / Low Jul 9
  • PRICE: 1.3363 @ 06:33 BST Jul 30
  • SUP 1: 1.3331 Low Jul 28
  • SUP 2: 1.3316 Low Jun 10 and bear trigger
  • SUP 3: 1.3235 Low Feb 24
  • SUP 4: 1.3267 Low Feb 25

USDCAD remains vulnerable. Recent bearish price action cleared key
support at 1.3486, Jun 23 low. This confirmed the end of the broad
sideways move that had dominated since mid-June. The former support
at 1.3398 Jun 11 low has also been cleared, reinforcing the bearish
threat. The break lower opens 1.3316, Jun 10 low where a breach would
expose 1.3202, Feb 21 low. Resistance is at 1.3445, Jul 24 high.

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