Free Trial

TECHS: CAD Momentum Builds Despite....>

Despite a minor rebound back above 1.3100, the stronger-than-expected Canadian
CPI release is starting to generate positive intraday signals. Daily cloud base
support remains intact at 1.3058, below here bears need to break the Aug 10 low
at 1.3042 to regain control and target the August lows of 1.2962. A topside
break of channel resistance is needed to suggest a bull flag breakout is in
play. Initial gains are likely to target 1.3290 and then the 1.3389 high, under
this scenario.

To read the full story



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.