Free Trial

TECHS: More conviction needed for.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: More conviction needed for further losses:
*RES 4: 1.3432 High Jun 18
*RES 3: 1.3342 20-day EMA
*RES 2: 1.3284 200-DMA
*RES 1: 1.3258 23.6% 1.3432 - 1.3151
*PRICE: 1.3213 @ 16:15 GMT June 21
*SUP 1: 1.3151 Low Jun 20
*SUP 2: 1.3120 61.8% 1.2783 - 1.3665
*SUP 3: 1.3113 Low Feb 25
*SUP 4: 1.3069 Low Feb 1
The pair trades heavy despite the modest recovery Friday, but Thursday's highs
never looked in contention, keeping the onus pointed lower for now. The break of
the 1.3225 level was an important bearish technical development and continues to
weigh on the pair. The focus is on support at 1.3113 and 1.3069 as initial
targets.

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.