Free Trial

TECHS: Rejection of key DMA's: *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Rejection of key DMA's:
*RES 4: 1.3435 76.4% retracement of the May 31-Jul 19 decline
*RES 3: 1.3432 High Jun 18
*RES 2: 1.3355 61.8% retracement of the May 31-Jul 19 decline
*RES 1: 1.3302/05/06 Cloud top/100-dma/200-dma
*PRICE: 1.3220 @ 09:34 GMT Aug 09
*SUP 1: 1.3215 Intraday low
*SUP 2: 1.3178 Low Aug 05
*SUP 3: 1.3122/20 50-mma/200-wma
*SUP 4: 1.3106 Low Jul 31
USDCAD rejected a close above the key 100 & 200-dma's, with the move further
cemented by Wednesday's bearish shooting star candle pattern. The retracement
extended to 1.3215, returning the focus to the Jul 31 low & Jul 19 ytd low at
1.3016. Bulls focus remains on the cloud top, 100 & 200-dma's at 1.3302/05/06,
above here would reignite upside momentum opening the 61.8% retracement of the
May-Jul decline at 1.3355.

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.