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Why MNI
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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.
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Trend Needle Points South
- RES 4: 1.3805 High Mar 24
- RES 3: 1.3709 Trendline resistance drawn from the Oct 13 2022 high
- RES 2: 1.3593/95 High Sep 12 / 7 and key resistance
- RES 1: 1.3519 20-day EMA
- PRICE: 1.3462 @ 20:47 BST Sep 25
- SUP 1: 1.3381 Low Sep 19
- SUP 2: 1.3323 61.8% retracement of the Jul 14 - Sep 7 bull leg
- SUP 3: 1.3266 Low Aug 2
- SUP 4: 1.3235 76.4% retracement of the Jul 14 - Sep 7 bull leg
USDCAD maintains a softer tone despite its latest gains. Last week’s move down resulted in a break of 1.3490, the Sep 1 low and this was followed by a clear breach of the 50-day EMA, at 1.3474. The move lower reinforces a bearish theme and signals scope for a deeper retracement. The focus is on 1.3323 next, a Fibonacci retracement. Initial firm resistance has been defined at 1.3519, 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.