USDCAD TECHS: Bull Channel Breakout

• MNI: US OCT FINAL SERV PMI 54.8 (55.2 FLASH, 54.2 SEP)
• US OCT FINAL COMPOSITE PMI 54.6 (54.8 FLASH, 53.9 SEP)

• RES 4: 1.4274 High Apr 9  
• RES 3: 1.4200 Round number resistance
• RES 2: 1.4167 50.0% retracement of the Feb 3 - Jun 16 bear leg
• RES 1: 1.4136/40 Channel top drawn from Jul 23 low / Intraday high
• PRICE: 1.4127 @ 14:43 GMT Nov 5
• SUP 1: 1.3998 20-day EMA 
• SUP 2: 1.3935 50-day EMA 
• SUP 3: 1.3888 Low Oct 29 and a key support  
• SUP 4: 1.3859 Bull channel base drawn from the Jul 23 low

A bull cycle in USDCAD remains intact. This week’s extension highlights a clear reversal of the corrective bear leg between Oct 14 - 29. The pair has breached 1.4080, the Oct 16 high to confirm a resumption of the uptrend.. Sights are on 1.4136 (pierced), the top of a bull channel drawn from the Jul 23 low. A clear break of this hurdle would open 1.4167, A Fibonacci retracement. First support lies at 1.3998, the 20-day EMA.

• Date $MM Issuer (Priced *, Launch #)
• 11/05 $Benchmark Mattel 5Y +160a
• 11/05 $Benchmark Equinix 5Y +110a
• 11/05 $Benchmark Polaris +5Y +200a
• 11/05 $Benchmark CBRE Services 7Y +130a
• 11/05 $Benchmark Santos Finance 10Y +195a
• 11/05 $Benchmark Northwestern Corp 2030 tap
• 11/05 $Benchmark KEPCO 3Y SOFR+62, 5Y +47
• 11/05 $Benchmark Intercontinental Exchange 3Y, +5Y
• 11/05 $Benchmark Apollo Global Mgt 5Y +110a, 10Y +130a
• 11/05 $Benchmark Transcontinental Gas Pipeline 10Y +120a, 30Y +130a