Free Trial

TECHS: Bullish Focus Dented *RES 3:...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Focus Dented
*RES 3: 1.3383 Sep 3 high and key resistance
*RES 2: 1.3348 High Oct 3
*RES 1: 1.3328 High Nov 20
*PRICE: 1.3287 @ 17:19 GMT Nov 26
*SUP 1: 1.3255 Low Nov 22
*SUP 2: 1.3191 Low Nov 19 and key near-term support
*SUP 3: 1.3172 Low Nov 8
USDCAD remains bullish following last weeks strong rebound, although the pair
weakened slightly Tuesday. A bullish engulfing pattern on Nov 19 highlighted a
resumption of the uptrend resulting in a break of 1.3271, Nov 14 high to
maintain the sequence of higher highs and higher lows in the trend that began on
Oct 29. A break above Wednesday's 1.3328 high would resume the uptrend again and
open 1.3348 the Oct 3 high next and 1.3383, Sep 3 high. Initial support lies at
1.3255, Nov 22 low.

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.