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Through Support

USDCAD TECHS
  • RES 4: 1.2964 High Dec 20 and the bull trigger
  • RES 3: 1.2924 High Dec 22
  • RES 2: 1.2848 High Dec 27 and a key near-term resistance
  • RES 1: 1.2748/2814 20-day EMA / High Jan 6
  • PRICE: 1.2695 @ 18:05 GMT Jan 10
  • SUP 1: 1.2610 Low Jan 10
  • SUP 2: 1.2608 Low Dec 8 and key support
  • SUP 3: 1.2585 Low Nov 19
  • SUP 4: 1.2546 Low 61.8% retracement of the Oct - Dec rally

USDCAD traded sharply lower Friday and extended these losses to touch 1.2610 on Monday. This puts prices below key short-term support at 1.2621, the Dec 31 low. This shifts the short-term outlook from bullish after the failure of 1.2621 and opens 1.2608, Dec 8 low. Weakness through here prompts a shift in focus down to 1.2585 - the Nov 19, 2021 low.

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