Free Trial

TECHS: Interesting Resistance From....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Interesting Resistance From Between $1.3125-$1.3177
*RES 4: $1.3226 2% volatility band
*RES 3: $1.3165/77 Jun 14 low, 2 year falling res line
*RES 2: $1.3132 61.8% Fibo of $1.3794-$1.2061
*RES 1: $1.3125 1.618 swing of $1.3002-$1.2803, Mar 19 high
*PRICE: $1.3073 @0936GMT
*SUP 1: $1.3047/48 Mar 19, Mar 16 lows
*SUP 2: $1.3001/02 Mar 7, Mar 5 highs, now support 
*SUP 3: $1.2965 Congestion area Mar 14-Mar 15
*SUP 4: $1.2921 Mar 14 low
*COMMENTARY* The rally through $1.3000 continued Monday, reaching $1.3125, the
swing target of the recent $1.3002-$1.2803 fall. This leaves us just shy of the
61.8% Fibo retrace level at $1.3132. As a result, became overbought in the near
term, so looking to $1.3048 support for clues. Loss here will likely kick start
a correction, potentially of those gains from $1.2803. Above $1.3132 and the 2
year falling resistance line at $1.3177 becomes the next attraction.

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.