Free Trial

TECHS: Bullish Theme Likely To........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bullish Theme Likely To Resuming
*RES 4: 1.4349 High Mar 31 and key resistance
*RES 3: 1.4299 High Apr 2
*RES 2: 1.4265 High Apr 21 and the bull trigger
*RES 1: 1.4198 High Apr 23
*PRICE: 1.4089 @ 06:33 BST Apr 24
*SUP 1: 1.4001 Low Apr 23
*SUP 2: 1.3998 Low Apr 17 / 20 and key near-term support
*SUP 3: 1.3876/56 50-day EMA / Low Apr 13
*SUP 4: 1.3812 50.0% retracement of the Jan 20 - Mar 19 rally
The pullback in USDCAD extended into a second session Thursday, with prices
dropping comfortably through the Apr 21 low of 1.4114 to expose key near-term
support at 1.3998. There remains a threat that the bullish theme could resume,
however, with last week's move higher signalling the end of the recent Mar 19 -
Apr 13 bearish cycle. Resistance at 1.4349, Mar 31 high is the primary target
for now and 1.4265 is the bull trigger. Watch support at 1.3998.

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.