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TECHS: Capped at Aug 7 high (so.......>

MNI (London)
DOLLAR-CANADA: TECHS: Capped at Aug 7 high (so far):
*RES 4: 1.3452 High Jun 4
*RES 3: 1.3435 76.4% retracement of the May 31-Jul 19 decline
*RES 2: 1.3432 High Jun 18
*RES 1: 1.3345/55 High Aug 7 / 61.8% retracement of the May 31-Jul 19 decline
*PRICE: 1.3312 @ 05:18 GMT Aug 16
*SUP 1: 1.3269/62 100-hma / 200-hma
*SUP 2: 1.3178/68 Low Aug 5 / cloud base
*SUP 3: 1.3145 61.8% retracement of the Jul 19-Aug 7 rally
*SUP 4: 1.3124/21 50-mma/200-wma
USDCAD bulls successfully tackled resistance at 1.3300/08, the 100-dma, cloud
top & 200-dma. This level previously held well so the breach is a positive
bullish outcome. Resistance 1.3345, clearance would further reinforce the
bullish theme and open 1.3432. Bears take comfort from last Wednesday's bearish
shooting star candle pattern and a bearish engulfing the following day. For
these to remain valid, price action needs to hold below 1.3345.
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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