Free Trial

TECHS: Getting Weaker *RES 4:.........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Getting Weaker
*RES 4: 1.4048 High May 25 and key near-term resistance
*RES 3: 1.3986 High May 26
*RES 2: 1.3867 Low May 19
*RES 1: 1.3833 High May 29
*PRICE: 1.3599 @ 17:29 BST Jun 1
*SUP 1: 1.3584 Intraday low
*SUP 2: 1.3579 2.0% 10-dma envelope
*SUP 3: 1.3500 round number support
*SUP 4: 1.3460 200-dma
USDCAD weakened further Monday, extending last week's sell-off below the former
key support at 1.3851, Apr 29 low. The break lower signals a resumption of the
retracement that started on Mar 19 off 1.4668. Price action has also recently
cleared the 50-day EMA at 1.3953, reinforcing the bearish theme. 1.3611 gave way
Monday, opening further downside targets at 1.35 and the 200-dma below. Initial
resistance is at 1.3833, May 29 high.

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.