Free Trial

TECHS: Bullish Outlook Holds *RES.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Outlook Holds
*RES 4: 1.3383 High Sep and key resistance
*RES 3: 1.3348 High Oct 3
*RES 2: 1.3300 High Oct 11
*RES 1: 1.3240 High Oct 15
*PRICE: 1.3230 @ 06:10 GMT Nov 11
*SUP 1: 1.3160 Low Nov 7
*SUP 2: 1.3115 Low Nov 5 and key near-term support
*SUP 3: 1.3075 Low Oct 30
*SUP 4: 1.3042 Low Oct 29 and initial key support
USDCAD ended last week on a firm note extending the rally off Tuesday's 1.3115
low. The outlook is bullish. This follows the broader reversal at the Oct 29 low
of 1.3042. The reversal is significant given it occurred ahead of the primary
support at 1.3016, Jul 19 low. The former key short-term resistance and bull
trigger is 1.3208, Oct 30 high has been cleared. The break opens 1.3240 and
1.3300. Initial support is at 1.3160.

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.