Commodity Prices

Gold •15 mins	2,360.90	+18.40	+0.79%
Platinum •15 mins	924.40	+3.90	+0.42%
WTI Crude •10 mins	83.89	+0.32	+0.38%
Gasoline •21 mins	2.769	+0.010	+0.38%
Ethanol •13 hours	2.161	+0.000	+0.00%
Silver •15 mins	27.99	+0.35	+1.27%

Silver • 15 mins	27.99	+0.35	+1.27%
Copper • 15 mins	4.597	+0.058	+1.28%
Brent Crude • 10 mins	89.30	+0.29	+0.33%
Natural Gas • 40 mins	1.584	-0.054	-3.30%
Heating Oil • 19 mins	2.569	+0.019	+0.74%

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USD/CAD: Potential For a Swing Lower to 1.0500

By - Jan 03, 2014, 6:13 AM CST

USD/CAD continues to meet strong resistance close to the 1.0700 region, threatening a longterm break under the support of the rising channel which has been in place for the last three months. Combined with substantial long speculative positioning, there is scope for a squeeze lower. Should this occur, support would be anticipated close to the 1.0500 region.

Longer term, the strong resistance at 1.0870 (02/11/2009 high, see also the long-term declining trendline from the October 2002 peak) continues to represent a major hurdle. Therefore, a break of this level is needed to call for further long-term strength.

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