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Tilts to New YTD High

USDCAD TECHS
  • RES 4: 1.3300 High Nov 4 2020
  • RES 3: 1.3245 2.0% 10-dma envelope
  • RES 2: 1.3224 High Jul 14
  • RES 1: 1.3159 3.0% Upper Bollinger Band
  • PRICE: 1.3103 @ 16:55 BST Jul 14
  • SUP 1: 1.2936/32 Low Jul 8 / 20-day EMA
  • SUP 2: 1.2858 50-day EMA
  • SUP 3: 1.2819 Low Jun 28 and key support
  • SUP 4: 1.2763 Low Jun 13

USDCAD surged Thursday, running sharply higher as the USD made broad gains across FX markets. This put prices north of first resistance at the uptrend line of 1.3125 drawn off the Sept’21 highs. A break and close above this mark would be an acceleration of the uptrend and initially opens vol band based resistance of 1.3245. This keeps broad trend conditions bullish.

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