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TECHS: Remains Vulnerable

DOLLAR-CANADA
  • RES 4: 1.3421 High Sep 30 and primary resistance
  • RES 3: 1.3390 High Oct 29
  • RES 2: 1.3300 High Nov 4
  • RES 1: 1.3178 High Nov 5
  • PRICE: 1.3065 @ 10:48 GMT Nov 6
  • SUP 1: 1.3029 Low Nov 5
  • SUP 2: 1.2994 Low Sep 1 and a key support
  • SUP 3: 1.2952 Low Dec 31, 2019 and primary support
  • SUP 4: 1.2939 2.0% 10-dma envelope

USDCAD remains vulnerable following Thursday's bearish session, in line with general USD weakness. The pair cleared a key short-term support at 1.3081, Oct 21 low, negating a recent bullish theme and instead highlights a stronger bearish near-term risk. The break lower refocuses attention on the key supports at 1.2994, Sep 1 low and the Dec 31, 2019 low of 1.2952. Initial resistance is at 1.3178, yesterday's high.

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