Free Trial

TECHS: Bounce Looks Corrective........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bounce Looks Corrective
USDCAD's rally off the 100-dma looks corrective with bulls failing to take out
the 50-dma at 1.3353, keeping the focus on the downside. The 100-dma at 1.3192
remains key focus for bears to extend the recent downtrend. Below here brings
the Dec 3 low at 1.3160 into view, ahead of the 61.8% retracement level &
200-dma at 1.3120/3095. Bulls need to recover the 50-dma at 1.3353, before
challenging the Jan 7 high at 1.3391.

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.