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Trading At The Week’s Highs

USDCAD TECHS
  • RES 4: 1.3805 High Mar 24
  • RES 3: 1.3732 Trendline resistance drawn from the Oct 13 2022 high
  • RES 2: 1.3655 High May 26 and a key resistance
  • RES 1: 1.3640 High Aug 25
  • PRICE: 1.3628 @ 16:51 BST Aug 25
  • SUP 1: 1.3496 Low Aug 21
  • SUP 2: 1.3451 20-day EMA
  • SUP 3: 1.3381 50-day EMA
  • SUP 4: 1.3266 Low Aug 2

USDCAD is trading at this week’s highs. The fresh cycle high on Wednesday reinforces the uptrend and maintains the price sequence of higher highs and higher lows. A clear break of 1.3600 would expose 1.3655, May 26 high. Note that a trendline resistance, drawn from the Oct 13 2022 high, is at 1.3732 and represents an objective further out. Support to watch is 1.3451, the 20-day EMA.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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