Free Trial

TECHS: Bullish Impulse *RES 4:........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Impulse
*RES 4: 1.3383 High Sep 3
*RES 3: 1.3331 61.8% June - Dec decline
*RES 2: 1.3328 High Nov 20 and key resistance
*RES 1: 1.3304 High Jan 3
*PRICE: 1.3267 @ 16:49 GMT Feb 4
*SUP 1: 1.3227 Low Jan 3
*SUP 2: 1.3191 Low Jan 30
*SUP 3: 1.3155 Low Jan 28 and 29
*SUP 4: 1.3105/01 High Jan 9 / Trendline support drawn off the Jan 7 low
USDCAD rallied sharply higher Monday as multi-year lows for both WTI and Brent
crude oil provided a very firm headwind for the CAD. The pair has tested the
1.3300 handle and with bullish conditions firmly in place, attention turns to
key resistance at the Nov 20 high of 1.3328. Support is seen at 1.3227
initially, Monday's low ahead of 1.3191, the Jan 30 low. A break of the latter
would dent the current impulsive bullish theme.

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.