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Free AccessTrend Needle Points North
- RES 4: 1.3805 High Mar 24
- RES 3: 1.3733 Trendline resistance drawn from the Oct 13 2022 high
- RES 2: 1.3655 High May 26 and a key resistance
- RES 1: 1.3604 High Aug 23
- PRICE: 1.3529 @ 08:08 BST Aug 24
- SUP 1: 1.3496 Low Aug 21
- SUP 2: 1.3437 20-day EMA
- SUP 3: 1.3373 50-day EMA
- SUP 4: 1.3266 Low Aug 2
USDCAD traded higher Wednesday, before reversing into the close. The fresh cycle high yesterday 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 1.3733 and represents an objective further out. Support to watch is 1.3446, the 20-day EMA.
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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.