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Free AccessTesting Key Support Zone
- RES 4: 1.4016 3.382 proj of the Aug 25 - Sep 7 - 13 price swing
- RES 3: 1.4000 Psychological round number
- RES 2: 1.3855/3977 High Oct 21 / 13 and the bull trigger
- RES 1: 1.3748 High Oct 25
- PRICE: 1.3531 @ 16:13 BST Oct 27
- SUP 1: 1.3496 Low Oct 27
- SUP 2: 1.3458 50-day EMA
- SUP 3: 1.3358 Low Sep 21
- SUP 4: 1.3227 Low Sep 20
USDCAD has cleared the 20-day EMA and maintains a bearish tone as the reversal from 1.3977, Oct 13 high, extends. The move lower exposes support at 1.3503, the Oct 4 low. Note that the 50-day EMA intersects at 1.3458. Clearance of these two chart points (a key support zone) would signal scope for a deeper pullback. The broader trend direction is up and the latest pullback is likely corrective. Initial firm resistance is 1.3855, the Oct 21 high.
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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.