Free Trial

TECHS: Close above 50-dma would be....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Close above 50-dma would be a bullish:
*RES 4: 1.3383 High Sep 3 and key resistance
*RES 3: 1.3345 High Sep 4
*RES 2: 1.3246 High Sep 5
*RES 1: 1.3214 High Sep 11
*PRICE: 1.3180 @ 04:53 GMT Sep 12
*SUP 1: 1.3134 Low Sep 10
*SUP 2: 1.3106/03 Low Jul 31 / 76.4% retracement of Jul 19 - Sep 3 rally
*SUP 3: 1.3041 Low Jul 22
*SUP 4: 1.3016 Low Jul 16
USDCAD has found support at this weeks low thus far of 1.3134, which also marks
a key short-term support. A close above the 50-dma would signal a bullish
development and potentially allow for a correction to unfold. 1.3246 would
likely attract. On the downside, an inability to hold onto recent gains and a
return below 1.3134, would reinstate the bearish case and expose 1.3106, the low
of Jul 31.

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.