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Free AccessTECHS: Rallies Again,.................>
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, 1% volatility band
*RES 1: $1.2391 Sep 20 high
*PRICE: $1.2384 @0835GMT
*SUP 1: $1.2314 Sep 25 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 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.
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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.