Free Trial

TECHS: Bulls On Very Firm Footing.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bulls On Very Firm Footing
*RES 3: 1.4393 3.0% Upper Bollinger Band
*RES 2: 1.4291 4.0% 10-dma envelope
*RES 1: 1.4246 Intraday high
*PRICE: 1.4233 @ 17:29 GMT Mar 17
*SUP 1: 1.3734 Low Mar 16
*SUP 2: 1.3708 Low Mar 12 and key near-term support
*SUP 3: 1.3609 Low Mar 10
USDCAD bulls were in fine form Tuesday, boosting prices to a fresh cycle high.
This keeps the outlook resolutely bullish. A series of Fibonacci projections
gave way Tuesday, opening levels not seen since early 2016, with the near-term
target now shifting to 1.4690. There remains little resistance beyond vol bands
between the Tuesday high and that level. Daily conditions are overbought though,
which could slow progress from here. Firm support is seen at 1.3734, Mar 16 low
and 1.3708, low Mar 12.

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.