Free Trial

TECHS: Under Pressure *RES 4:.........>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Under Pressure
*RES 4: 1.4173 High May 7
*RES 3: 1.4141 High May 14
*RES 2: 1.4048 High May 25 and key near-term resistance
*RES 1: 1.3986 High May 26
*PRICE: 1.3784 @ 17:01 BST May 27
*SUP 1: 1.3728 Intraday low
*SUP 2: 1.3682 Low Mar 11
*SUP 3: 1.3611 61.8% retracement of the rally between Jan 7 - Mar 19
*SUP 4: 1.3500 round number support
USDCAD remains under pressure. The pair Tuesday traded below the former key
support at 1.3851, Apr 29 low to signal a resumption of the retracement that
started on Mar 19 off 1.4668. Tuesday's price action also cleared the 50-day EMA
at 1.3953, reinforcing the developing bearish theme. The focus turns to 1.3734,
the Mar 16 low that has been probed and 1.3611 further out, a retracement level.
1.4048 is firm resistance.

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.