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USDCAD TECHS: Fresh Cycle High

USDCAD TECHS
  • RES 4: 1.4078 2.0% 10-dma envelope  
  • RES 3: 1.4000 Round number resistance
  • RES 2: 1.3946 High Aug 5 and a key resistance   
  • RES 1: 1.3869 High Oct 24 
  • PRICE: 1.3852 @ 08:03 BST Oct 25
  • SUP 1: 1.3786/3728 Low Oct 18 / 20-day EMA
  • SUP 2: 1.3667 50-day EMA 
  • SUP 3: 1.3611 Low Oct 8 
  • SUP 4: 1.3567 Low Oct 7

The USDCAD trend outlook remains bullish and the pair traded to a fresh short-term cycle high yesterday. Price has breached 1.3822, 76.4% of the Aug 5 - Sep 25 bear leg. The breach reinforces a bullish theme and opens 1.3946, the Aug 5 high and the next key resistance. Initial firm support to watch lies at 1.3728, the 20-day EMA. A pullback would be considered corrective and allow an overbought condition to unwind.

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  • RES 4: 1.4078 2.0% 10-dma envelope  
  • RES 3: 1.4000 Round number resistance
  • RES 2: 1.3946 High Aug 5 and a key resistance   
  • RES 1: 1.3869 High Oct 24 
  • PRICE: 1.3852 @ 08:03 BST Oct 25
  • SUP 1: 1.3786/3728 Low Oct 18 / 20-day EMA
  • SUP 2: 1.3667 50-day EMA 
  • SUP 3: 1.3611 Low Oct 8 
  • SUP 4: 1.3567 Low Oct 7

The USDCAD trend outlook remains bullish and the pair traded to a fresh short-term cycle high yesterday. Price has breached 1.3822, 76.4% of the Aug 5 - Sep 25 bear leg. The breach reinforces a bullish theme and opens 1.3946, the Aug 5 high and the next key resistance. Initial firm support to watch lies at 1.3728, the 20-day EMA. A pullback would be considered corrective and allow an overbought condition to unwind.