Free Trial

TECHS: Late July recovery extends:....>

DOLLAR-CANADA: TECHS: Late July recovery extends:
*RES 4: 1.3355 61.8% retracement of the May 31-Jul 19 decline
*RES 3: 1.3286 High Jun 20
*RES 2: 1.3253 3% Upper Bollinger Band
*RES 1: 1.3215 Jul 31 High
*PRICE: 1.3198 @ 20:01 GMT Jul 31
*SUP 1: 1.3116 Low Jul 23 and Jul 25
*SUP 2: 1.3016/15 Low Jul 19 / Low Oct 25 2018
*SUP 3: 1.3000 Psychological round number
*SUP 4: 1.2990 100-wma / 76.4% of the rally between Oct 1-Dec 31, 2018
The late July recovery extended Wednesday thanks to the Fed, helping boost the
pair north of 1.32, at which bulls will aim to create a base. Resistance is eyed
at 1.3215, with a break above here opening the 1.32s and early June highs.
Bullish momentum looks likely to fade soon, however, keeping bears hopeful of a
return to 1.3116 support, which should prove firm.
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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.