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Free AccessTECHS: Sharp Rally *RES 4: 1.3409.....>
DOLLAR-CANADA: TECHS: Sharp Rally
*RES 4: 1.3409 1.00 projection of Jul 19 - Sep 3 rally from Oct 29 low
*RES 3: 1.3383 Sep 3 high and key resistance
*RES 2: 1.3348 High Oct 3
*RES 1: 1.3300 High Oct 11
*PRICE: 1.3281 @ 07:07 GMT Nov 20
*SUP 1: 1.3191 Low Nov 19
*SUP 2: 1.3172 Low Nov 8
*SUP 3: 1.3115 Low Nov 5 and key near-term support
*SUP 4: 1.3075 Low Oct 30
USDCAD rallied yesterday following a brief visit below 1.3200. The sharp
recovery has extended overnight and resulted in a break above last weeks high of
1.3271. This negates the recent bearish concern that developed late last week
and has instead reinstated the recovery that started on Oct 29. Support has been
defined at yesterday's 1.3191 low and attention turns to 1.3300 and 1.3348, Oct
11 and 03 highs respectively. Bullish once again.
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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.