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Uptrend Remains Intact

USDCAD TECHS
  • RES 4: 1.2849 High Sep 21
  • RES 3: 1.2775 High Sep 29
  • RES 2: 1.2739 High Oct 1
  • RES 1: 1.2690 High Nov 22
  • PRICE: 1.2688 @ 15:44 GMT Nov 22
  • SUP 1: 1.2493/2387 Low Nov 16 / 10
  • SUP 2: 1.2288 Low Oct 21 and the bear trigger
  • SUP 3: 1.2253 Low Jun 23
  • SUP 4: 1.2229 76.4% retracement of the Jun - Aug rally

USDCAD conditions firmed Monday, with the pair breaking above the 61.8% retracement of the Sep 20 - Oct 21 sell-off at 1.2664 to solidify the bullish outlook. Strength sees the upside targets boosted toward the October high of 1.2739 as well as late September's 1.2775. Initial firm support lies at 1.2493, Nov 16 low.

MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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