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Through Resistance

  • RES 4: 1.2737 High Mar 5
  • RES 3: 1.2699 2.0% 10-dma envelope
  • RES 2: 1.2653 High Apr 21 and a key resistance
  • RES 1: 1.2614 High Jul 15
  • PRICE: 1.2598 @ 21:03 BST Jul 15
  • SUP 1: 1.2428 Low Jul 14
  • SUP 2: 1.2303/2253 Low Jul 6 / Low Jun 23 and a key support
  • SUP 3: 1.2157 Low Jun 16
  • SUP 4: 1.2057 Low Jun 7

USDCAD rallied Thursday and breached resistance at 1.2590, Jul 8 high. The break confirms a resumption of the uptrend that started Jun 1 and paves the way for a climb towards 1.2653 next, Apr 21 high and a key resistance. Moving average studies are in a bull mode reinforcing current trend conditions. Support has been defined at 1.2428, Jul 14 low. A break would signal scope for a deeper corrective pullback.

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