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Trend Structure Remains Bullish

USDCAD TECHS
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsForeign Exchange Bullets
  • RES 4: 1.3977 High Oct 13 ‘23 and a key M/T resistance
  • RES 3: 1.3899 High Nov 1 and a key resistance
  • RES 2: 1.3846/55 High Apr 16 and the bull trigger / High Nov 10 2023
  • RES 1: 1.3785 High Apr 30
  • PRICE: 1.3758 @ 08:10 BST May 8
  • SUP 1: 1.3630 50-day EMA
  • SUP 2: 1.3610 Low May 3
  • SUP 3: 1.3547 Low Apr 9
  • SUP 4: 1.3478 Low Apr 4

A bullish trend condition in USDCAD remains intact for now and the recent move lower appears to have been a correction. The pair has recently cleared 1.3614, the Mar 19, 22, 25 and 29 highs, strengthening a bullish theme. Note too, that moving average studies are in a bull-mode position. Key support to watch is 1.3630, the 50-day EMA. This average was pierced last Friday, but remains intact as a support, for now.

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  • RES 4: 1.3977 High Oct 13 ‘23 and a key M/T resistance
  • RES 3: 1.3899 High Nov 1 and a key resistance
  • RES 2: 1.3846/55 High Apr 16 and the bull trigger / High Nov 10 2023
  • RES 1: 1.3785 High Apr 30
  • PRICE: 1.3758 @ 08:10 BST May 8
  • SUP 1: 1.3630 50-day EMA
  • SUP 2: 1.3610 Low May 3
  • SUP 3: 1.3547 Low Apr 9
  • SUP 4: 1.3478 Low Apr 4

A bullish trend condition in USDCAD remains intact for now and the recent move lower appears to have been a correction. The pair has recently cleared 1.3614, the Mar 19, 22, 25 and 29 highs, strengthening a bullish theme. Note too, that moving average studies are in a bull-mode position. Key support to watch is 1.3630, the 50-day EMA. This average was pierced last Friday, but remains intact as a support, for now.