MNI: PBOC Net Drains CNY20.7 Bln via OMO Thursday

MNI: PBOC Sets Yuan Parity Lower At 7.1886 Thurs; -2.34% Y/Y

MNI BRIEF: PBOC To Issue Record Volume of CNH Bills Next Week

CHINA DEC CPI +0.1% Y/Y VS MEDIAN +0.1%; NOV +0.2%: NBS

MNI BRIEF: US Hiring, Pay Growth Continue Downshift- ADP

MNI China Daily Summary: Wednesday, January 8

MNI:AUSTRALIA NOV TRADE BALANCE A$+7079

MNI: AUSTRALIA NOV RETAIL SALES +0.8% M/M

MNI: UK DEC BRC SHOP PRICES +0% M/M, -1% Y/Y

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

USDCAD TECHS: Support At The 20-Day EMA Remains Intact

USDCAD TECHS
USForeign Exchange Technical AnalysisCanadaBulletMarketsForeign Exchange BulletsNorth America
  • RES 4: 1.4271 2.0% 10-dma envelope  
  • RES 3: 1.4140 1.500 proj of the Oct 17 - Nov 1 - 6 price swing
  • RES 2: 1.4132 3.0% Upper Bollinger Band
  • RES 1: 1.4037/4106 High Nov 19 / 15 and the bull trigger 
  • PRICE: 1.4002 @ 16:51 GMT Nov 25
  • SUP 1: 1.3937/28 20-day EMA / Intraday low 
  • SUP 2: 1.3830 50-day EMA
  • SUP 3: 1.3822 Low Nov 6
  • SUP 4: 1.3747 Low Oct 17

The trend outlook in USDCAD remains bullish and the pullback last week is considered corrective. Moving average studies are in a bull-mode condition, highlighting a dominant uptrend. Note that initial firm support at the 20-day EMA, at 1.3937, remains intact. It has been pierced, a clear break of it is required to signal scope for a deeper retracement. A reversal higher would refocus attention on key resistance at 1.4106, the Nov 15 high.   

140 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: 1.4271 2.0% 10-dma envelope  
  • RES 3: 1.4140 1.500 proj of the Oct 17 - Nov 1 - 6 price swing
  • RES 2: 1.4132 3.0% Upper Bollinger Band
  • RES 1: 1.4037/4106 High Nov 19 / 15 and the bull trigger 
  • PRICE: 1.4002 @ 16:51 GMT Nov 25
  • SUP 1: 1.3937/28 20-day EMA / Intraday low 
  • SUP 2: 1.3830 50-day EMA
  • SUP 3: 1.3822 Low Nov 6
  • SUP 4: 1.3747 Low Oct 17

The trend outlook in USDCAD remains bullish and the pullback last week is considered corrective. Moving average studies are in a bull-mode condition, highlighting a dominant uptrend. Note that initial firm support at the 20-day EMA, at 1.3937, remains intact. It has been pierced, a clear break of it is required to signal scope for a deeper retracement. A reversal higher would refocus attention on key resistance at 1.4106, the Nov 15 high.