MNI: SPAIN NOV MANUF PMI 53.1 (FCST 54.0); OCT 54.5

MNI BRIEF: Japan Q3 GDP To Be Slightly Revised Down

MNI: PBOC Net Drains CNY216 Bln via OMO Monday

MNI: PBOC Sets Yuan Parity Lower At 7.1865 Mon; -1.50% Y/Y

MNI: China CFETS Yuan Index Up 0.01% In Week of Nov 29

MNI BRIEF: PBOC Added Outright Repo For Ample Lqdty In Nov

MNI: AUSTRALIA Q3 BIZ INDICATORS INVENTORIES -0.9%

MNI: AUSTRALIA OCT BUILDING APPROVALS +4.2% M/M, +6.1% Y/Y

MNI: AUSTRALIA NOV DWELLING APPROVALS +4.2% M/M

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

MNI EXCLUSIVE: German Turmoil Dashes EU's Joint-Funding Hopes -Officials

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD TECHS: Resistance Remains Intact For Now

USDCAD TECHS
USForeign Exchange Technical AnalysisGlobalCanadaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3739 High Aug 15 
  • RES 3: 1.3693 High Aug 19
  • RES 2: 1.3625 50-day EMA  
  • RES 1: 1.3623 High Sep 11 
  • PRICE: 1.3590 @ 07:54 BST Sep 18
  • SUP 1: 1.3547/3441 Low Sep 9 / Aug 28 and the bear trigger 
  • SUP 2: 1.3420 Low Mar 08
  • SUP 3: 1.3358 76.4% retracement of the Dec 27 - Aug 5 bull leg
  • SUP 4: 1.3288 Low Jan 05

USDCAD is in consolidation mode and is trading closer to its latest highs. Recent strength appears to be corrective. Attention is on resistance at the 50-day EMA, at 1.3625. This level remains intact - for now. However, a breach of the EMA would signal scope for a stronger bull cycle. For bears, a clear reversal lower would refocus attention on 1.3441, Aug 28 low and the bear trigger.A break of this level resumes the downtrend that started Aug 5.

143 words

To read the full story

Close

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.
  • RES 4: 1.3739 High Aug 15 
  • RES 3: 1.3693 High Aug 19
  • RES 2: 1.3625 50-day EMA  
  • RES 1: 1.3623 High Sep 11 
  • PRICE: 1.3590 @ 07:54 BST Sep 18
  • SUP 1: 1.3547/3441 Low Sep 9 / Aug 28 and the bear trigger 
  • SUP 2: 1.3420 Low Mar 08
  • SUP 3: 1.3358 76.4% retracement of the Dec 27 - Aug 5 bull leg
  • SUP 4: 1.3288 Low Jan 05

USDCAD is in consolidation mode and is trading closer to its latest highs. Recent strength appears to be corrective. Attention is on resistance at the 50-day EMA, at 1.3625. This level remains intact - for now. However, a breach of the EMA would signal scope for a stronger bull cycle. For bears, a clear reversal lower would refocus attention on 1.3441, Aug 28 low and the bear trigger.A break of this level resumes the downtrend that started Aug 5.