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DOLLAR-CANADA: TECHS: Stalls Ahead of Thursday High
*RES 4: 1.4948 High March 2003
*RES 3: 1.4814 High April 2003
*RES 2: 1.4690 High 2016 and major resistance
*RES 1: 1.4668 High Mar 19
*PRICE: 1.4364 @ 16:40 GMT Mar 20
*SUP 1: 1.4150 Intraday low
*SUP 2: 1.4017 High Mar 16
*SUP 3: 1.3961 Low Mar 17
*SUP 4: 1.3734 Low Mar 16
USDCAD traded to a high of 1.4668 Thursday extending the current rally. Price
has since pulled back. This retracement is likely a correction with underlying
bullish conditions still in place. Recent sharp gains highlight a strong bullish
outlook although it must be remembered that the trend is certainly overbought. A
clear breach of 1.4167, the Mar 18 low is needed to suggest a top. The focus is
on 1.4690, the 2016 high and a major resistance.