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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.
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Free AccessMNI: China CFETS Yuan Index Up 0.01% In Week of Nov 22
MNI: PBOC Net Injects CNY76.7 Bln via OMO Monday
TECHS: Bounce Highlights Potential Reversal
- RES 4: 1.3486 Low Jun 23 and a former breakout level
- RES 3: 1.3460 High Jul 30
- RES 2: 1.3421 High Sep 30 and the intraday bull trigger
- RES 1: 1.3341 High Oct 7
- PRICE: 1.3276 @ 17:17 BST Oct 7
- SUP 1: 1.3242 Low Oct 6
- SUP 2: 1.3207 50.0% retracement of the Sep 1 - 30 rally
- SUP 3: 1.3171 Low Sep 21
- SUP 4: 1.3157 61.8% retracement of the Sep 1 - 30 rally
The recent pullback in USDCAD is still considered a correction. Price did however breach trendline support Tuesday, drawn off the Sep 1 low. A deeper pullback would signal scope for weakness towards 1.3207, a Fibonacci retracement. The Tuesday gains provide an early signal though of a potential reversal and a base at 1.3242. Further upside would open 1.3421, Sep 30 high where a break would confirm a resumption of the uptrend.
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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.