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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.
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Free AccessMNI Commodity Weekly: Oil Markets Assess Trump Impact
MNI Gas Weekly: Winter Weather Takes the Driver's Seat
TECHS: Outlook Still Bullish *RES.....>
DOLLAR-CANADA: TECHS: Outlook Still Bullish
*RES 3: 1.3328 High Nov 20 and initial key resistance
*RES 2: 1.3298 High Dec 4
*RES 1: 1.3270 High Dec 6
*PRICE: 1.3172 @ 20:38 GMT Dec 11
*SUP 1: 1.3162 Low Dec 11
*SUP 2: 1.3159/51 Low Dec 5 / 61.8% of the Oct 29 to Nov 20 rally
*SUP 3: 1.3109 76.4% retracement of the Oct 29 - Nov 20 rally
Bulls suffered a Fed-induced setback Wednesday as the pair retraced back below
the 1.3172 level, but these moves should be considered as corrective at this
stage. The 61.8% retracement of the Oct 29 to Nov 20 rally at 1.3151 remains key
support going forward. As such, there remains a bullish outlook and if the USD
is able to maintain a bid tone near-term, potential would be seen for an
extension higher towards 1.3300. To negate last week's sharp sell-off though
between Dec 3 and Dec 5, a break of 1.3328, Nov 20 high is still required.
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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.