Free Trial

TECHS: Double Doji Yesterday and......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Double Doji
Yesterday and Friday saw USDCAD post two dojis, confirming that the outlook
remains uncertain and neutral for now. The cross continues to find support at
the cluster of moving averages (21,55,100) around the 1.33 level. Bears need to
close below Thursday's low at 1.3287 to suggest a downside break and return the
focus to the Feb 22 high & 50% retracement level at 1.3242/24. Bulls look look
for a close above 1.34 to put the focus back on the Mar 6 high at 1.3468, ahead
of the Jan 4 high at 1.3496.

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.