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DOLLAR-CANADA: TECHS: Uptrend Struggling?
*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: 1.3249 @ 10:37 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 has been in an upward trajectory this week. However, yesterday's
rejection off the high and the close near session lows highlights a developing
bearish theme. In candle terms, yesterday's pattern is a shooting star,
signalling a top in the trend. Selling pressure overnight in Asia has been
reversed however and key today will be whether the pair can trade above 1.3271.
A failure would leave it exposed to a possible move below 1.3200.