Free Trial

TECHS: Rally Meets Resistance From....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Rally Meets Resistance From 76.4% Retrace At $1.2521
*RES 4: $1.2595 2% volatility band
*RES 3: $1.2552 2 week bull channel top projection
*RES 2: $1.2521 76.4% Fibo of $1.2663-$1.2061
*RES 1: $1.2495/05 Hourly resistance
*PRICE: $1.2472 @1333GMT
*SUP 1: $1.2413 Sep 26 high, initial rally high Sep 27
*SUP 2: $1.2362/75 2 week suppt line, congestion Sep 25-27
*SUP 3: $1.2330 Sep 26 low
*SUP 4: $1.2290 Congestion area Sep 19-20
*COMMENTARY* The upside broke through the potentially difficult $1.2414-$1.2441
region. An immediate rally to the next significant barrier at $1.2521, the 76.4%
Fibo retrace of the $1.2663-$1.2061 fall, seen in the early part of the month.
Overbought in the near term as a result, pullbacks likely to meet with support
from above $1.2413, loss would caution but the $1.2375-$1.2362 area should hold
below, or rally is likely over. Above $1.2521 look for $1.2552-$1.2595 next.

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.