Free Trial

TECHS: Triangle Resistance USDCAD.....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Triangle Resistance
USDCAD extended the recovery off yesterday's post CPI lows to rest on triangle
top resistance, a level that has so far proved hard to overcome. A break of
1.3400, opens a move toward the double-top resistance area at 1.3465/70, ahead
of the Jan 4 high at 1.3496. Bears need to clear the 100-dma at 1.3336, while a
downside break of the 55-dma would shift the outlook, opening the March 19 low &
triangle base at 1.3251/25.

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.