Free Trial

Trend Needle Points North

  • RES 4: 1.3805 High Mar 24
  • RES 3: 1.3730 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: 1.3591 @ 16:11 BST Aug 29
  • SUP 1: 1.3496 Low Aug 21
  • SUP 2: 1.3478 20-day EMA
  • SUP 3: 1.3398 50-day EMA
  • SUP 4: 1.3266 Low Aug 2

USDCAD is holding on to its recent gains and remains bullish. Last week’s gains reinforces the uptrend and maintains the price sequence of higher highs and higher lows. The focus is on 1.3655, the May 26 high. Note that a trendline resistance, drawn from the Oct 13 2022 high, is at 1.3730 and represents an objective further out. Support to watch is 1.3478, the 20-day EMA. A break of this average would signal the start of a correction.

MNI London Bureau | +44 203-865-3809 |

To read the full story



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.