Free Trial

Bear Flattening Post-U.S. CPI


(U2) Regaining Stability


Mester Notes Decision That

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
  • RES 4: 1.2455 50-day EMA
  • RES 3: 1.2419 High Apr 27
  • RES 2: 1.2351 High May 4 and a key near-term resistance
  • RES 1: 1.2194/2288 High May 7 / High May 6
  • PRICE: 1.2076 @ 14:32 BST May 12
  • SUP 1: 1.2046 Intraday low
  • SUP 2: 1.2000 Psychological round number
  • SUP 3: 1.1978 2.0% 10-dma envelope
  • SUP 4: 1.1920 Low May 2015

USDCAD has traded lower again today as the bear cycle extends. Today's key technical development has been a test of the major support at 1.2062, Sep 2017 low. This represents an important pivot chart point that either represents the base of a broad range or the midpoint of a double top reversal pattern. A clear break lower would reinforce the current downtrend and open 1.2000 and below. Initial firm resistance is at 1.2194, May 7 high.

MNI London Bureau | +44 203-586-3805 |
MNI London Bureau | +44 203-586-3805 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.