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TECHS: Focus Is On The 50-day EMA

  • RES 4: 1.3347 High Aug 12
  • RES 3: 1.3283 50-day EMA
  • RES 2: 1.3274 Aug 14 high
  • RES 1: 1.3259 High Sep 9 and key near-term resistance
  • PRICE: 1.3207 @ 10:52 BST Sep 17
  • SUP 1: 1.3119 Low Sep 10 and key near-term support
  • SUP 2: 1.3038 Low Sep 2
  • SUP 3: 1.2994/76 Low Sep 1 and the bear trigger / Low Jan 8
  • SUP 4: 1.2957 Low Jan 7

USDCAD remains in a corrective cycle and scope is seen for short-term gains. Last week's move higher through 1.3200 signals scope for a climb towards 1.3283, the 50-day EMA and a key resistance area. A clear breach of the average would suggest potential for stronger gains. Initial firm support has been defined at 1.3119, Sep 10 low. A break of this level would expose once again, support at 1.3038 and 1.2994.

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