Free Trial

TECHS: Still Trading Sideways: *RES...>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Still Trading Sideways:
*RES 4: 1.3432 High Jun 18
*RES 3: 1.3383 High Sep 3 and key resistance
*RES 2: 1.3345 High Sep 4
*RES 1: 1.3310 High Sep 18 and bull trigger
*PRICE: 1.3240 @ 15:51 GMT Sep 30
*SUP 1: 1.3214 Low Sep 27
*SUP 2: 1.3206 Low Sep 13 and key near-term support
*SUP 3: 1.3177 Low Sep 12
*SUP 4: 1.3134 Low Sep 10 and key support
Despite some volatile price action Friday USDCAD remains consolidative for now.
The recovery established off the low of Sep 10 remains intact. Focus for bulls
is on the potential for a close above 1.3300 and a break of 1.3310. This would
cement the bullish outlook and open 1.3345, the high of Sep 4 and 1.3383, Sep 3
high. On the downside, support lies at 1.3206, Sep 13 low. A break of this level
would instead highlight a growing bearish risk.

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.