Free Trial

TECHS: Still Vulnerable Near-Term:....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Still Vulnerable Near-Term:
*RES 4: 1.3383 High Sep 3 and key resistance
*RES 3: 1.3348 High Oct 3
*RES 2: 1.3300 High Oct 11
*RES 1: 1.3240 High Oct 15
*PRICE: 1.3207 @ 05:13 GMT Oct 17
*SUP 1: 1.3171 Low Oct 11
*SUP 2: 1.3134 Low Sep 10 and major support
*SUP 3: 1.3103 76.4% retracement of Jul 19 - Sep 3 rally
*SUP 4: 1.3041 Low Jul 22
USDCAD is unchanged. The outlook remains bearish following the move lower last
Friday which is seen weighing on the pair near-term. The sell-off resulted in
the break of key support from the early October lows at 1.3206 that negated
recent bullish signals following the rally since early October. The focus is on
1.3134, Sep 10 low and 1.3103, 76.4% retracement of Jul 19 - Sep 3 rally. On the
upside, resistance is at 1.3300. The intraday bear trigger is 1.3171.

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.