• 742 days Will The ECB Continue To Hike Rates?
  • 742 days Forbes: Aramco Remains Largest Company In The Middle East
  • 744 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,144 days Could Crypto Overtake Traditional Investment?
  • 1,149 days Americans Still Quitting Jobs At Record Pace
  • 1,151 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,154 days Is The Dollar Too Strong?
  • 1,154 days Big Tech Disappoints Investors on Earnings Calls
  • 1,155 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,157 days China Is Quietly Trying To Distance Itself From Russia
  • 1,157 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,161 days Crypto Investors Won Big In 2021
  • 1,161 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,162 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,164 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,165 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,168 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,169 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,169 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,171 days Are NFTs About To Take Over Gaming?
Zombie Foreclosures On The Rise In The U.S.

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

Another Retail Giant Bites The Dust

Another Retail Giant Bites The Dust

Forever 21 filed for Chapter…

  1. Home
  2. Markets
  3. Other

USD/CAD - Multi-Month Consolidation Broken to The Downside

USD/CAD has broken to the downside out of its multi-month consolidation phase. A support can be found at 1.2047 (intraday low). Hourly resistances stand at 1.2388 (08/04/2015 low) and 1.2445 (14/04/2015 low).

In the longer term, the technical structure looks like a rounding bottom whose maximum upside potential is given by the strong resistance at 1.3065 (09/03/2009 high). The break of the key support at 1.2352 (03/02/2015 low) indicates increasing selling pressures, which favours further medium-term weakness. A support lies at 1.1992 (see the 38.2% retracement).

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment