Free Trial

TECHS: Breaking lower USDCAD has......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Breaking lower
USDCAD has breached the 1.30 level two days running, setting up a test of the
descending channel support now at 1.2976. A further break below here will open
the way for the 1.2856 area to be targeted. Daily momentum indicators have also
given further bearish signals. Any rebounds will likely encounter initial
resistance at 1.3096, which has formed the top end of the range over the past
few trading sessions.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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.