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Tops Resistance At The 50-Day EMA

USDCAD TECHS
  • RES 4: 1.3617 High Mar 29
  • RES 3: 1.3582 50.0% retracement of the Mar 10 - Apr 14 bear leg
  • RES 2: 1.3573 1.0% 10-dma envelope
  • RES 1: 1.3563 High Apr 21
  • PRICE: 1.3536 @ 16:42 BST Apr 21
  • SUP 1: 1.3385/3302 Low Apr 19 / 14 and the bear trigger
  • SUP 2: 1.3275 Low Feb 14
  • SUP 3: 1.3262 Low Feb 2 and a key support
  • SUP 4: 1.3226 Low Nov 15 2022

USDCAD maintains a firmer tone and the current correction remains intact. The pair has topped 1.3526 resistance - the 50-day EMA. A clear break of this hurdle would strengthen the current bull cycle and signal scope for a climb towards 1.3573, the 1.0% 10-dma envelope. For bears, a failure at the 50-day EMA would signal the end of the correction and attention would turn to the key support at 1.3302, the Apr 14 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets

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