Free Trial

TECHS: Bull Flag: *RES 3: 1.3432......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bull Flag:
*RES 3: 1.3432 High Jun 18
*RES 2: 1.3383 High Sep 3 and key resistance
*RES 1: 1.3348 High Oct 3
*PRICE: 1.3324 @ 15:33 GMT Oct 9
*SUP 1: 1.3266 50% of the Oct 2 range
*SUP 2: 1.3206 Low Sep 13 and Oct 2 / Key near-term support
*SUP 3: 1.3177 Low Sep 12
USDCAD again bounced modestly in the Wednesday session, proving the 200-dma
remains decent support for now. The outlook is focused on gains following last
weeks move higher on Oct 2. This day marked a bullish breakout that appears
still to have the legs for an extension higher. Furthermore, the past few
trading sessions appear to be a bull flag, a continuation pattern that
reinforces the current outlook. Attention is on 1.3383, Sep 3 high while key
support is 1.3206.

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.