MNI China Daily Summary: Wednesday, Sept 11

MNI BRIEF: Cautious Policy Adjustments Eyed - BOJ's Nakagawa

MNI: PBOC Net Injects CNY209.3 Bln via OMO Wednesday

MNI: PBOC Sets Yuan Parity Higher At 7.1182 Weds; +2.35% Y/Y

CHINA PBOC CONDUCTS CNY210 BLN VIA 7-DAY REVERSE REPOS WEDS

CHINA SETS YUAN CENTRAL PARITY AT 7.1182 WEDS VS 7.1136

MNI: US AUG CPI UNROUNDED M/M 0.187%, CORE 0.281%

MNI: US AUG CPI 0.2%, CORE 0.3%; CPI Y/Y 2.5%, CORE Y/Y 3.2%

US MBA: REFIS +1% SA; PURCH INDEX +2% SA THRU SEP 6 WK

AUSTRALIA: Albanese Lines Up Budget for May Election

AUSTRALIA: Albanese Lines Up Budget for May Election

UK: Week Ahead

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

USDCAD TECHS: Southbound 

USDCAD TECHS
USForeign Exchange Technical AnalysisGlobalCanadaBulletMarketsForeign Exchange BulletsRegionNorth America
  • RES 4: 1.3739 High Aug 15
  • RES 3: 1.3677 50-day EMA 
  • RES 2: 1.3614 20-day EMA  
  • RES 1: 1.3519 High August 26
  • PRICE: 1.3460 @ 08:15 BST Aug 29
  • SUP 1: 1.3441 Low Aug 28
  • SUP 2: 1.3420 Low Mar 8
  • SUP 3: 1.3358 76.4% retracement of the Dec 27 - Aug 5 bull leg
  • SUP 4: 1.3288 Low Jan 5

USDCAD bears remain in the driver’s seat and the pair is trading at its recent lows. The latest impulsive sell-off reinforces the current bearish condition and moving average studies are in a bear-mode set-up. Furthermore, 1.3589, the Jul 11 low, has recently been cleared, strengthening a bearish theme. Sights are on 1.3358, a Fibonacci projection. On the upside, initial firm resistance to watch is at 1.3630,the 20-day EMA.

122 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: 1.3677 50-day EMA 
  • RES 2: 1.3614 20-day EMA  
  • RES 1: 1.3519 High August 26
  • PRICE: 1.3460 @ 08:15 BST Aug 29
  • SUP 1: 1.3441 Low Aug 28
  • SUP 2: 1.3420 Low Mar 8
  • SUP 3: 1.3358 76.4% retracement of the Dec 27 - Aug 5 bull leg
  • SUP 4: 1.3288 Low Jan 5

USDCAD bears remain in the driver’s seat and the pair is trading at its recent lows. The latest impulsive sell-off reinforces the current bearish condition and moving average studies are in a bear-mode set-up. Furthermore, 1.3589, the Jul 11 low, has recently been cleared, strengthening a bearish theme. Sights are on 1.3358, a Fibonacci projection. On the upside, initial firm resistance to watch is at 1.3630,the 20-day EMA.