Free Trial

TECHS: Clears congestion: *RES 3:.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Clears congestion:
*RES 3: 1.3432/35 High Jun18/76.4% May 31 - Jul 19
*RES 2: 1.3432 High Jun 18
*RES 1: 1.3383 Intraday high
*PRICE: 1.3337 @ 16:18 GMT Sep 3
*SUP 1: 1.3248 Low Aug 30
*SUP 2: 1.3225 Low Aug 27 and key support
*SUP 3: 1.3211 Low Aug 14
USD/CAD finally begins to show some (bullish) life as it succeeds in eroding
congestion resistance at 1.3346, the Aug 20 high and 1.3355, the 61.8%
retracement of the May 31 - Jul 19 decline. Yesterday's high print of 1.3361
marks an important intraday bull trigger. Today's break signals scope for
further gains and a test of 1.3432, allowing for an extension of the uptrend in
place since Jul 19. Momentum studies are bullish. On the downside, support is at
1.3248 and 1.3225.

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.