Free Trial

TECHS: Looks Happier Above the........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Looks Happier Above the 200-dma:
*RES 3: 1.3432 High Jun 18
*RES 2: 1.3383 High Sep 3 and key resistance
*RES 1: 1.3348 High Oct 3
*PRICE: 1.3333 @ 16:34 GMT Oct 8
*SUP 1: 1.3266 50% of the Oct 2 range
*SUP 2: 1.3206 Low Sep 13 and Oct 2 / Key near-term support
*SUP 3: 1.3177 Low Sep 12
Despite the bearish moves Friday/Monday, USDCAD bounced modestly Tuesday,
proving the 200-dma remains decent support for now. The outlook remains bullish
following last weeks move higher on Oct 2 that saw of host of key resistance
levels cleared. This marked a bullish breakout that appears still to have the
legs for an extension higher. Support at 1.3206, Sep 13 and Oct 2 low also held
last week reinforcing the current bullish theme. Attention is on 1.3383, Sep 3
high where a break would confirm a resumption of the broader uptrend. Key
support is 1.3206.

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.