Free Trial

TECHS: Impulsive Rally Extends *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Impulsive Rally Extends
*RES 4: 1.3409 1.00 projection of Jul 19 - Sep 3 rally from Oct 29 low
*RES 3: 1.3383 Sep 3 high and key resistance
*RES 2: 1.3348 High Oct 3
*RES 1: 1.3315 Intraday high
*PRICE: 1.3314 @ 10:38 GMT Nov 20
*SUP 1: 1.3263 Intraday low
*SUP 2: 1.3191 Low Nov 19
*SUP 3: 1.3172 Low Nov 8
*SUP 4: 1.3115 Low Nov 5 and key near-term support
USDCAD rallied yesterday following a brief visit below 1.3200 and has maintained
the momentum today. The sharp recovery has resulted in a break above last weeks
high of 1.3271. This negates the recent bearish concern that developed late last
week and has instead reinstated the recovery that started Oct 29. Initial
support has been defined at today's 1.3263 low. With 1.3300 cleared this
morning, the focus turns to 1.3348, Oct 3 high next.

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.