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Free AccessTECHS: Post Retail Sales spike........>
DOLLAR-CANADA: TECHS: Post Retail Sales spike faded:
*RES 4: 1.3226 Low Jun 10
*RES 3: 1.3196 High Jun 26
*RES 2: 1.3144/45 High Jul 10 / High Jul 1 and key resistance
*RES 1: 1.3110 High July 19
*PRICE: 1.3083 @ 15:39 GMT Jul 19
*SUP 1: 1.3016/15 Intraday low / Low Oct 25 2018
*SUP 2: 1.3000 Psychological round number
*SUP 3: 1.2990 100-wma / 76.4% of the rally between Oct 1-Dec 31, 2018
*SUP 4: 1.2970 Low Oc 24, 2018
Soft Canadian Retail Sales spiked to 1.3110, before fading. Despite this, USDCAD
remains locked in a clear downtrend with a price sequence of lower lows and
lower highs still dominating. The potential is seen for a move lower towards the
psychological 1.3000 level. A break here would open the 100-wma at 1.2990, also
the 76.4% retracement level of rally between Oct 1-Dec 31, 2018. Below this
support, 1.2916 would be exposed. Key resistance remains 1.3144/45.
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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.