Free Trial

TECHS: Downside Set To Extend *RES....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Downside Set To Extend
*RES 4: 1.3240 High Dec 11
*RES 3: 1.3205 High Dec 13
*RES 2: 1.3181 High Dec 20 and initial key resistance
*RES 1: 1.3125 High Dec 27
*PRICE: 1.3072 @ 11:03 GMT Dec 30
*SUP 1: 1.3064 Low Dec 27 and intraday low
*SUP 2: 1.3042 Low Oct 29 and key support
*SUP 3: 1.3016 Low Jul 19
*SUP 4: 1.2970 Low Oct 24, 2018
USDCAD remains under pressure. The pair has cleared former support at 1.3103 to
confirm a resumption of this month's sell-off. This paves the way for a move
towards 1.3042, Oct 29 low and the next key support. Both momentum and moving
average studies are pointing south reinforcing the current bearish theme. Firm
resistance has been defined at 1.3181, Dec 20 high. A break of this level is
required to ease the bearish threat.

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.