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Free AccessTECHS: Bullish Focus *RES 4: 1.4349...>
DOLLAR-CANADA: TECHS: Bullish Focus
*RES 4: 1.4349 High Mar 31
*RES 3: 1.4265 High Apr 21 and the bull trigger
*RES 2: 1.4198 High Apr 23
*RES 1: 1.4152 Intraday high
*PRICE: 1.4091 @ 16:34 BST May 4
*SUP 1: 1.3930 Low May 1
*SUP 2: 1.3851 Low Apr 30 and bear trigger
*SUP 3: 1.3813 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3734 Low Mar 16
Last week, USDCAD tested below but failed to convincingly break the bear trigger
at 1.3856, Apr 13 low. The subsequent bounce is potentially an important bullish
development. Note too that the pair also managed to find support at the 50-day
EMA around 1.3896. Attention is on further gains with scope for a climb towards
key resistance at 1.4265, Apr 21 high. A break of this level would open 1.4349,
Mar 31 high. Key support has been defined at 1.3851, Apr 30 low.
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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.