Free Trial

TECHS: Bulls still in charge: *RES....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Bulls still in charge:
*RES 4: 1.3355 61.8% retracement of the May 31-Jul 19 decline
*RES 3: 1.3252/86 55-dma / High Jun 20
*RES 2: 1.3226 3% Upper Bollinger Band and Low Jun 10
*RES 1: 1.3199 High Jul 26
*PRICE: 1.3174 @ 05:11 GMT Jul 30
*SUP 1: 1.3116 Low Jul 23 and Jul 25
*SUP 2: 1.3016/15 Low Jul 19 / Low Oct 25 2018
*SUP 3: 1.3000 Psychological round number
*SUP 4: 1.2990 100-wma / 76.4% of the rally between Oct 1-Dec 31, 2018
USDCAD faded slightly Monday, extending the retreat from the 1.3199 high printed
last week. Nonetheless the overarching tone is bullish following last week's
break above 1.3144/45. Further gains are seen likely with attention on 1.3226
next. Momentum is firmer reinforcing the current developing bullish theme.
Strong short-term support has been defined at 1.3116. A failure to hold above
this support would expose the ytd low at 1.3016.

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.