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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 AccessTECHS: Bouncing But Still Weak
- RES 4: 1.3646 High Jul 14 and key S/T resistance
- RES 3: 1.3530/3600 50-day EMA / High Jul 20
- RES 2: 1.3537 High Jul 21
- RES 1: 1.3460/91 High Jul 30 / Low Jul 9
- PRICE: 1.3382 @ 17:23 BST Aug 7
- SUP 1: 1.3202 Low Feb 21
- SUP 2: 1.3130 3.0% Lower Bollinger Band
- SUP 3: 1.3089 2.0% 10-dma envelope
- SUP 4: 1.3057 61.8% 2017 - 2020 Rally
USDCAD broke through the bear trigger at the Jun 10 low of 1.3316 early Wednesday, developing the downside theme and raising the likelihood of a test of the Dec31 2019 low at 1.2952. Prices have recovered very slightly since then, but are yet to counter the downside argument. The next key support rests at 1.3202, the Feb 21 low. The formation of a so-called 'Death Cross' (50-dma < 200-dma) has worsened the outlook. Resistance remains at 1.3491, Jul 24 high.
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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.