Free Trial

TECHS: Sellers Above 1.32 Despite.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Sellers Above 1.32
Despite overcoming the mid-August highs, USDCAD has failed to build on gains
above 1.3200. Bulls need a convincing break of the double-top resistance area at
1.3205/10, before challenging the July 20 high at 1.3290. A break above here
opens the potential of a rally to 1.34. Bears need a break of 1.2900 to
re-establish the downtrend and target the 200-dma and channel base support at
1.2853/46. Below here opens the May 22 low at 1.2743.

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.