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- RES 4: 1.2739 High Oct 1
- RES 3: 1.2648 High Oct 6
- RES 2: 1.2587 50-day EMA
- RES 1: 1.2499 High Oct 12
- PRICE: 1.2368 @ 16:30 BST Oct 14
- SUP 1: 1.2355 Low Oct 14
- SUP 2: 1.2303 Low Jul 6
- SUP 3: 1.2270 2.0% 10-dma envelope
- SUP 4: 1.2253 Low Jun 23
The USDCAD bear cycle that started Sep 20 remains in place and the pair tripped below key support at the Jul 30 low of 1.2422 ahead of the close. The recent break of 1.2494, Sep 3 low signals scope for a deeper pullback and has opened 1.2303, the Jul 6 low. On the upside, a breach of 1.2775, Sep 29 high would represent a bullish development. Initial firm resistance is at 1.2587, the 50-day EMA.