Free Trial

TECHS: Recovery Once Again Rejected...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Recovery Once Again Rejected By $1.2917-$1.2927 
*RES 4: $1.3004 1.618 swing of $1.2893-$1.2714
*RES 3: $1.2969/80 Jan 31 low, 1% volatility band
*RES 2: $1.2921/27 Dec 19 high, 50% Fibo of $1.3794-$1.2061
*RES 1: $1.2885/95 Hourly resistance
*PRICE: $1.2829 @1103GMT
*SUP 1: $1.2816 Initial recovery high Dec 14, now support
*SUP 2: $1.2786 Hourly high Dec 15, now support
*SUP 3: $1.2760/65 Minor congestion Dec 14-15
*SUP 4: $1.2714 Dec 14 low
*COMMENTARY* Once again the $1.2917-$1.2927 region has inhibited gains. While
lacking a clear break above here, then the immediate risk will be lower and
renewed pressure on $1.2816 support. Have to currently stay above here to retain
recent upside momentum and avoid some further corrective consequences, beginning
with $1.2786-$1.2760. Meanwhile, $1.2885-$1.2895 provides an initial barrier to
cross ahead of $1.2921-$1.2927. 

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.