USDCAD TECHS: MA Studies Highlight Dominant Uptrend
Mar-13 08:01
- RES 4: 1.4793 High Feb 3 and key resistance
- RES 3: 1.4700 Round number resistance
- RES 2: 1.4641 76.4% retracement of the Feb 3 - 14 bear leg
- RES 1: 1.4543 High Mar 4 and a bull trigger
- PRICE: 1.4395 @ 08:00 GMT Mar 13
- SUP 1: 1.4242 Low Mar 6
- SUP 2: 1.4151/4107 Low Feb 14 / 50.0% of Sep 25 - Feb 3 bull run
- SUP 3: 1.4011 Low Dec 5 ‘24
- SUP 4: 1.3944 61.8% retracement of the Sep 25 ‘24 - Feb 3 bull cycle
The bull cycle in USDCAD that started Feb 14 remains in play, and moving average studies reinforce this condition - they remain in a bull-mode position. The pair has recovered from its Mar 6 low and a continuation higher would signal scope for a test of the S/T bull trigger at 1.4543, the Mar 4 high. On the downside, support to watch lies at 1.4242, the Mar 6 low. A break of this level would instead expose key short-term support at 1.4151, the Feb 14 low.
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Historical bullets
GILTS: Opening calls
Feb-11 07:57
Gilt calls, 93.22/93.31.
EQUITIES: EU Cash opening calls
Feb-11 07:54
Estox 50: +0.16%, Dax: +0.11%, CAC: -0.06%, FTSE +0.17%, SMI +0.32%.
BONDS: Bund is testing Yesterday's low
Feb-11 07:53
- The German Bund is testing 133.21, this was Yesterday's low, but not seen any standout size flows and the push lower.
- The contract printed a 132.95 low post NFP, the next downside hurdle to watch, ahead of the 132.72 support.
- US TYH5 look to test 109.01, the US NFP low, and looking at the 10yr Yield, 4.55% would be situated 108.26+ today, although the better Yield resistance will be seen at 4.60%.
