Free Trial

TECHS: Below C$1.2418 Targets.........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Below C$1.2418 Targets C$1.2232
*RES 4: C$1.2662 - High Aug 31 
*RES 3: C$1.2594 - High Oct 9 
*RES 2: C$1.2555 - Hourly support Oct 17 now resistance 
*RES 1: C$1.2533 - High Oct 18
*PRICE: C$1.2476 @ 0930GMT
*SUP 1: C$1.2454 - Hourly support Oct 19 
*SUP 2: C$1.2418 - Lows Sept 28 & 29 
*SUP 3: C$1.2339 - Bollinger band base 
*SUP 4: C$1.2232 - Low Sept 20
*COMMENTARY: Wednesday's bounce from the bull channel base, 21 & 55-DMAs lacked
follow through with the pair currently flirting with the 55-DMA (C$1.2464) as
bears focus on C$1.2418. Bears need a close below C$1.2418 to end bullish hopes
and shift focus to C$1.2232. Initial resistance is noted at C$1.2533 with bulls
looking for a close above to shift focus back to C$1.2594 Oct highs so far.

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.