Free Trial

TECHS: Upside Focus *RES 4: 1.3409....>

DOLLAR-CANADA
DOLLAR-CANADA: TECHS: Upside Focus
*RES 4: 1.3409 1.00 projection of Jul 19 - Sep 3 rally from Oct 29 low
*RES 3: 1.3383 Sep 3 high and key resistance
*RES 2: 1.3348 High Oct 3
*RES 1: 1.3328 High Nov 20
*PRICE: 1.3283 @ 10:43 GMT Nov 22
*SUP 1: 1.3263 Low Nov 20
*SUP 2: 1.3191 Low Nov 19 and key near-term support
*SUP 3: 1.3172 Low Nov 8
*SUP 4: 1.3115 Low Nov 5
Despite pulling back yesterday, USDCAD remains bullish following the strong
rebound earlier this week. A bullish engulfing pattern Tuesday highlighted the
bullish resumption resulting in a break of 1.3271, Nov 14 high to maintain the
sequence of higher highs and higher lows in the trend that started on Oct 29. A
break above Wednesday's 1.3328 high would resume the uptrend and open 1.3348 the
Oct 3 high next and 1.3383, Sep 3 high. Support is at 1.3263.

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.