Free Trial

TECHS: Cycle Lows Yesterday's break...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Cycle Lows
Yesterday's break of the key 1.30 level has given bears renewed momentum to
challenge the Jun 8 low at 1.2922. Below here opens a deeper correction toward
the 200-dma at 1.2842 and May lows at 1.2730. Up trendline support and the
100-dma at 1.2995 will now act as resistance. A break above 1.3160 is needed to
turn the outlook bullish and would likely confirm a bull flag formation,
accelerating gains.

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.