Free Trial

TECHS: Pullback Finds Support At......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Pullback Finds Support At Top Of $1.2809-$1.2763 Area
*RES 4: $1.3001/02 Mar 6, Mar 5 highs
*RES 3: $1.2961 Mar 8 high
*RES 2: $1.2909 Mar 9 high
*RES 1: $1.2880 Hourly resistance
*PRICE: $1.2857 @0853GMT
*SUP 1: $1.2803/09 Mar 12 low, 50% Fibo of $1.2615-$1.3002
*SUP 2: $1.2758/63 Feb 22 high, 61.8% Fibo of $1.2615-$1.3002
*SUP 3: $1.2743 1% volatility band
*SUP 4: $1.2712 Feb 26 high, now support
*COMMENTARY* After two attempts has so far been unable to move with any
conviction above $1.3000. The subsequent pullback broke below support from the
38.2% Fibo retrace level at $1.2854 on Friday. This of the gains seen since the
Feb 26 low at $1.2615. Has so far been held around the top of the next deeper
correction area between $1.2809-$1.2763. Meanwhile, $1.2880-$1.2909 forms the
bar to a renewal of upside interest.

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.