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DOLLAR-CANADA: TECHS: Uptrend Stalls?
*RES 4: 1.3383 High Sep and key resistance
*RES 3: 1.3348 High Oct 3
*RES 2: 1.3300 High Oct 11
*RES 1: 1.3271 High Nov 14
*PRICE: 1.3227 @ 06:09 GMT Nov 15
*SUP 1: 1.3208 High Oct 30 and former breakout level
*SUP 2: 1.3172 Low Nov 8
*SUP 3: 1.3115 Low Nov 5 and key near-term support
*SUP 4: 1.3075 Low Oct 30
USDCAD prices have remained in an upward trajectory this week. However,
yesterday's rejection off the high and the close near the low of yesterday's
session highlights a developing bearish theme. In candle terms, yesterday's
pattern is a shooting star, signalling a top in the trend. Selling pressure
overnight reinforces this pattern. While resistance at 1.3271 remains intact,
the risk has increased that prices will likely trade below 1.3200 near-term.