Free Trial

Trades Above The 50-Day EMA

USDCAD TECHS
  • RES 4: 1.3695 High Mar 28
  • RES 3: 1.3668 High Apr 28 and key resistance
  • RES 2: 1.3640 High May 3
  • RES 1: 1.3568 High May 15
  • PRICE: 1.3497 @ 16:17 BST May 15
  • SUP 1: 1.3480 Low May 12
  • SUP 2: 1.3363/15 Low May 11 / 8
  • SUP 3: 1.3302 Low Apr 14 and a key near-term support
  • SUP 4: 1.3275 Low Feb 14

A strong rally in USDCAD extended Friday. The rally has eased recent bearish pressure and the pair has traded above the 50-day EMA, at 1.3520. A clear break of this average would be seen as a short-term bullish development and signal scope for a climb towards resistance at 1.3668, the Apr 28 high. Key support lies at 1.3302, the Apr 14 low, where a break is required to reinstate a bearish theme.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.