Free Trial

TECHS: Recovery left wanting: *RES....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Recovery left wanting:
*RES 3: 1.3252/86 55-dma / High Jun 20
*RES 2: 1.3226 3% Upper Bollinger Band and Low Jun 10
*RES 1: 1.3199 High Jul 26
*PRICE: 1.3170 @ 15:57 GMT Jul 30
*SUP 1: 1.3116 Low Jul 23 and Jul 25
*SUP 2: 1.3016/15 Low Jul 19 / Low Oct 25 2018
*SUP 3: 1.3000 Psychological round number
USDCAD faded slightly Monday, but staged a modest bounce late Tuesday. Price
action has lacked any momentum so far this week, leaving the technical picture
unchanged for now. The overarching tone remains bullish following last week's
break above 1.3144/45. Further gains are seen likely with attention on 1.3226
next. Momentum is firmer reinforcing the current developing bullish theme.
Strong short-term support has been defined at 1.3116. A failure to hold above
this support would expose the ytd low at 1.3016.

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.