Free Trial

TECHS: Correction Continues,..........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Correction Continues, $1.2687-$1.2665 Key Support
*RES 4: $1.2850/55 Congestion area Dec 7-Dec 13
*RES 3: $1.2825/30 Series hourly lows Early Dec, now res'tce
*RES 2: $1.2816/17 Hourly low, recovery high Dec 14
*RES 1: $1.2785/90 Hourly resistance
*PRICE: $1.2751 @1106GMT
*SUP 1: $1.2714/27 Dec 14 low, 61.8% Fibo of $1.2624-$1.2893
*SUP 2: $1.2687 76.4% Fibo of $1.2624-$1.2893
*SUP 3: $1.2665 1% volatility band
*SUP 4: $1.2624 Dec 5 low
*COMMENTARY* Has found $1.2893 resistance too strong as yet, to mount another
challenge to the key $1.2917-$1.2927 area. As a result, we have seen a pullback,
which having lost support from the 38.2% Fibo retrace level at $1.2790 on
Thursday, has accelerated to $1.2714 so far, just below the 61.8% retrace at
$1.2727. This and the $1.2687-$1.2665 area present important near term support
now. In the interim, 1.2785-90 resists against a further $1.2816-$1.2855 rise.

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.