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Free AccessTECHS: Uptrend Extends *RES 4:........>
DOLLAR-CANADA: TECHS: Uptrend Extends
*RES 4: 1.3328 High Nov 20 and key resistance
*RES 3: 1.3298 High High Dec 4
*RES 2: 1.3270 High Dec 6
*RES 1: 1.3245 Intraday high
*PRICE: 1.3225 @ 17:07 GMT Jan 31
*SUP 1: 1.3191 Intraday low
*SUP 2: 1.3155 Low Jan 28 and 29
*SUP 3: 1.3105 High Jan 9 and former breakout level
*SUP 4: 1.3086 Trendline support drawn off the Jan 7 low
USDCAD remains firm and traded higher again Friday climbing to new 2020 highs.
Recent gains have erased the resistance band at 1.3186/3205, the Dec 16 and 13
highs respectively. The clear breach of this zone opens 1.3270, Dec 6 high and
extends January's bullish performance. Support is at 1.3155, the Jan 28 and 29
low ahead of 1.3105, Jan 9 high and the former breakout level. A break of the
latter would threaten the bullish theme.
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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.