Free Trial

TECHS: Near-term outlook turning......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Near-term outlook turning positive:
*RES 4: 1.3286 High Jun 20
*RES 3: 1.3226 Low Jun 10
*RES 2: 1.3196 High Jun 26
*RES 1: 1.3164 High Jul 23
*PRICE: 1.3139 @ 08:08 GMT Jul 24
*SUP 1: 1.3086/67 100-hma / 200-hma
*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
USDCAD traded above pivotal resistance at the 1.3144/45 levels Tuesday, turning
the near-term outlook much more positive. A clean break would fuel potential for
a stronger corrective bounce, opening 1.3196 and 1.3226 as initial objectives.
Momentum is firmer reinforcing the developing bullish theme. A failure to hold
onto gains would likely see bears return and refocus sights on the 200-hma,
ahead of recent lows at 1.3016.

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.