Free Trial

TECHS: Rally Falters Below............>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Rally Falters Below $1.2786-$1.2815 Resistance Zone
*RES 4: $1.2874 76.4% Fibo of $1.3016-$1.2414
*RES 3: $1.2815 1.618 swing of $1.2753-$1.2653, 1% vol band
*RES 2: $1.2786 61.8% Fibo of $1.3016-$1.2414
*RES 1: $1.2779 Aug 15 high
*PRICE: $1.2731 @1215GMT
*SUP 1: $1.2715 Hourly support
*SUP 2: $1.2677/82 Hourly basing area Aug 14
*SUP 3: $1.2651/53 Aug 8, Aug 11 lows
*SUP 4: $1.2619/29 Aug 3 high, Aug 7 low
*COMMENTARY* The rally on Tuesday eclipsed the $1.2753-$1.2755 resistance area,
then leading us to $1.2779 and toward a test of the 61.8% Fibo retrace level at
$1.2786. Any higher and now has the $1.2815 area to contend with, before the way
becomes clear for a further run at the next Fibo retrace level at $1.2874.
Support moves up to $1.2715 but the lower $1.2677-$1.2682 area remains more
important to upside momentum.

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.