Free Trial
AUDUSD TECHS

Fresh Cycle Low

US TSY FUTURES

BLOCK, Large 5Y Buy

EURJPY TECHS

Clears Key Supports

STIR FUTURES

2H22 Fed Hike Expectations Taking The Brunt

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Focus Is On Support
*RES 3: 1.4198 High Apr 23
*RES 2: 1.4173 High May 7 and key near-term resistance
*RES 1: 1.4045 23.6% March - April Decline
*PRICE: 1.4023 @ 16:57 BST May 11
*SUP 1: 1.3851 Low Apr 30 and bear trigger
*SUP 2: 1.3812 50.0% retracement of the rally between Jan 7 - Mar 19
*SUP 3: 1.3734 Low Mar 16
Upside was favoured Monday, putting near-term resistance levels under pressure
but prices remain dictated by the Fibonacci patterns drawn from the March -
April decline. As such, the 23.6% retracement is key resistance going forward,
which prices failed to top Monday. Unless prices top this mark, the pair remains
weak with attention on support at 1.3851, the Apr 30 low. A break of this level
would negate the recent positive focus and instead confirm a resumption of the
reversal that started Mar 19. This would open 1.3812, a retracement level.

To read the full story

Why Subscribe to

MarketNews.com

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.