Free Trial

TECHS: Heads Toward Next..............>

DOLLAR-CANADA: TECHS: Heads Toward Next $1.2786-$1.2815 Resistance Zone
*RES 4: $1.2874 76.4% Fibo of $1.3016-$1.2414
*RES 3: $1.2815 1.618 swing of $1.2753-$1.2653
*RES 2: $1.2800 1% volatility band
*RES 1: $1.2786 61.8% Fibo of $1.3016-$1.2414
*PRICE: $1.2747 @1612GMT
*SUP 1: $1.2715 Hourly support
*SUP 2: $1.2677/82 Hourly basing area Aug 14
*SUP 3: $1.2651/53 Aug 8, Aug 11 lows
*SUP 4: $1.2619/29 Aug 3 high, Aug 7 low
*COMMENTARY* Continued rally today has eclipsed the $1.2753-$1.2755 resistance
area, leading us toward a test of the 61.8% Fibo retrace level at $1.2786 next.
Any higher and has the $1.2800-$1.2815 area to contend with, before the way
becomes clear for a further run at the next Fibo retrace level at $1.2874.
Support moves up to $1.2715 but the lower $1.2677-$1.2682 area remains more
important to upside momentum.

To read the full story



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.