Free Trial

TECHS: Struggling for traction:.......>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Struggling for traction:
*RES 4: 1.3355 61.8% retracement of the May 31-Jul 19 decline
*RES 3: 1.3313 Cloud top
*RES 2: 1.3304/08 200-dma/100-dma
*RES 1: 1.3286 High Jun 20
*PRICE: 1.3195 @ 03:10 GMT Aug 06
*SUP 1: 1.3178 Low Aug 05
*SUP 2: 1.3119/06 200-wma/Low Jul 31
*SUP 3: 1.3016/15 Low Jul 19/Low Oct 25, 2018
*SUP 4: 1.3000 Round number support
USDCAD failed to build above 1.3245 yesterday, with the downtrend extending back
through 1.3200. This puts immediate focus on the 200-wma & Jul 31 low at
1.3119/06, a break opens the Jul 19 ytd low at 1.3016. Clustered resistance is
noted into the June 20 high, with a break above the 200 & 100-dma's at 1.3304/08
needed to reignite upside momentum.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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.