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Free AccessTECHS: Holding Above Support *RES.....>
DOLLAR-CANADA: TECHS: Holding Above Support
*RES 4: 1.3843 2.0% 10-dma envelope
*RES 3: 1.3802 High Jun 1
*RES 2: 1.3656/3716 50-day EMA / High Jun 26 and the bull trigger
*RES 1: 1.3646 High Jul 14 and key near-term bull trigger
*PRICE: 1.3527 @ 18:29 BST Jul 20
*SUP 1: 1.3491/86 Low Jul 9 / Low Jun 23 and key near-term pivot support
*SUP 2: 1.3398 Low Jun 11
*SUP 3: 1.3316 Low Jun 10 and bear trigger
*SUP 4: 1.3235 Low Feb 24
USDCAD traded lower Monday but continues to hold above support at 1.3491/86.
While this level holds, a bullish theme prevails following the breach on Jun 26
of resistance at 1.3686, Jun 15 high. 1.3716, Jun 26 high is the key trigger for
a stronger resumption of gains that would open 1.3802, Jun 1 high. The initial
bull trigger though is at 1.3646, Jul 14 high. Sub 1.3486 levels would threaten
this outlook and expose 1.3398, Jun 11 low.
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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.