NORGES: RATES PROBABLY AT CURRENT LEVEL QUITE SOME TIME

RATES MAY NEED TO BE ON HOLD LONGER THAN ENVISIONED: NORGES

MNI: NORGES BANK LEAVES RATES UNCHANGED AT 4.50%

MNI WATCH: CNB Seen Cutting 50Bps to 5.25%, Signal Slower Pace

MNI China Daily Summary: Tuesday, April 30

MNI BRIEF: China To Keep Tackling Risks In Real Estate, Debts

Machine Orders Data Points To Slow And Gradual Recovery

Unemployment Steady; Projected to Rise Gradually

MNI: EUROZONE MAR UNEMPLOYMENT RATE 6.5%

RPT-MNI: Canada Sticks To Fiscal Anchors, Spends Chunk Of Windfall

MNI BRIEF: Poilievre Calls QE 'Scam' And Would Limit BOC Remit

MNI: Growth Drag From Net Zero Carbon Goal Can Be Offset-OECD

© 1982-2023 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Trading At This Week’s Lows

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.3899 High Nov 1 and a key resistance
  • RES 3: 1.3855 High Nov 10 2023
  • RES 2: 1.3804/46 High Apr 19 / 16
  • RES 1: 1.3763 High Apr 22
  • PRICE: 1.3649 @ 08:10 BST Apr 26
  • SUP 1: 1.3637 Intraday low
  • SUP 2: 1.3604 50-day EMA
  • SUP 3: 1.3547 Low Apr 9
  • SUP 4: 1.3478 Low Apr 4

USDCAD is trading at this week’s lows. A bullish trend condition remains intact and the most recent pullback appears to be a correction - for now. The pair has recently cleared resistance at 1.3614, the Mar 19, 22, 25 and 29 high. This opens 1.3855 next, the Nov 10 ‘23 high. Note that moving average studies remain in a bull-mode position, highlighting a clear rising trend. Key support to watch lies at the 50-day EMA, at 1.3604 today.

133 words

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.
  • RES 4: 1.3899 High Nov 1 and a key resistance
  • RES 3: 1.3855 High Nov 10 2023
  • RES 2: 1.3804/46 High Apr 19 / 16
  • RES 1: 1.3763 High Apr 22
  • PRICE: 1.3649 @ 08:10 BST Apr 26
  • SUP 1: 1.3637 Intraday low
  • SUP 2: 1.3604 50-day EMA
  • SUP 3: 1.3547 Low Apr 9
  • SUP 4: 1.3478 Low Apr 4

USDCAD is trading at this week’s lows. A bullish trend condition remains intact and the most recent pullback appears to be a correction - for now. The pair has recently cleared resistance at 1.3614, the Mar 19, 22, 25 and 29 high. This opens 1.3855 next, the Nov 10 ‘23 high. Note that moving average studies remain in a bull-mode position, highlighting a clear rising trend. Key support to watch lies at the 50-day EMA, at 1.3604 today.