Free Trial

TECHS: Breaks Channel Base Support....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Breaks Channel Base Support
Firmer oil prices amid the backdrop of improved risk appetite has seen CAD
further extend gains across the board, with only JPY outperforming it so far
this year. USDCAD breached channel base support to lows of 1.3431, shifting
downside focus to the 61.8% retracement level at 1.3411, ahead of the 50-dma at
1.3332. Bulls need to recover the 1.36 handle to change the outlook, returning
the focus to the Dec 31 high at 1.3665.

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.