Free Trial

TECHS: Trend of Higher Lows Intact....>

DOLLAR-CANADA: TECHS: Trend of Higher Lows Intact
USDCAD took out the previously hard to overcome 1.35 level yesterday before
fading around down trendline resistance off the Jan highs. Weakness extended in
Asian trading with the pair dipping as low as 1.3436 before establishing another
higher low. Bulls need a  close above 1.3505 to cement the uptrend and put the
focus back on the Apr 21 high at 1.3521. Bears need to clear the 21-dma and
1.3400 level to return the focus to the May 1 low & 100-dma at 1.3377/50.

To read the full story



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.