Free Trial

TECHS: Struggling To Build Upside.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Struggling To Build Upside Momentum
Despite holding above the Aug 28 low on a closing basis last week, the recovery
off the lows has lacked impulse. Bulls look for a break back above the 50-dma at
1.3049 and 50% retracement level at 1.3101 to return the focus to the upside and
extend longer-term gains. Bears need a break back under 1.2900 to challenge the
Sep 20 low & 200-dma at 1.2885/66. Below here would suggest a large topping
pattern is unfolding, opening channel base support at 1.2792.

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.