Free Trial

TECHS: Holding Firm USDCAD based......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Holding Firm
USDCAD based ahead of trendline support yesterday, before sharp falls in oil
aided the recovery back through the 200-dma. Despite the broader risk-off theme,
USDCAD has been unable to comfortably hold 1.32, leaving bullish targets at down
trendline resistance & 100-dma at 1.3255/60 intact. Above here brings the Feb 19
high & 38.2% retracement level back into view at 1.3281/97. Bears need to clear
the 61.8% retracement level & trendline support at 1.3120/16 to regain the upper
hand, putting the focus back on the ytd low at 1.3069.

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.