Free Trial

TECHS: Rallies Again,.................>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Rallies Again, $1.2414-$1.2441 Still Key Resistance 
*RES 4: $1.2521 76.4% Fibo of $1.2663-$1.2061
*RES 3: $1.2433/41 61.8% Fibo of $1.2663-$1.2061, Aug 29 low
*RES 2: $1.2414 Jul 26, Jul 17 lows, now resistance
*RES 1: $1.2388/91 1% volatility band, Sep 20 high
*PRICE: $1.2351 @1640GMT
*SUP 1: $1.2314 Intraday low
*SUP 2: $1.2280/85 Minor hourly congestion Sep 22
*SUP 3: $1.2255 Sep 22 low
*SUP 4: $1.2198 Sep 20 low
*COMMENTARY* Having found support from above $1.2245 last Friday, we are now
back up challenging the upper 1% volatility band at $1.2388 and the Sep 20 high
at $1.2391. This still leaves us shy of the next crucial resistance area from
between $1.2414-$1.2441. Will need to climb successfully above the latter,
before the overall downside bias is reversed. In the interim, support from
$1.2314-$1.2280 now provides the protection to Friday's $1.2255 base.

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.