USD/CAD - The Underlying Uptrend has Resumed
USD/CAD has broken the resistance area between 1.1271 (03/10/2014 high) and 1.1279 (20/03/2014 high), confirming an increasing buying interest. Hourly supports can be found at 1.1271 (previous resistance) and 1.1217 (intraday low).
In the longer term, the technical structure looks like a rounding bottom whose minimum upside potential is at 1.1725. The break of the resistance at 1.1279 (20/03/2014 high) confirms this bullish outlook. Strong supports can be found at 1.1072 (02/10/2014 low) and 1.0811 (29/08/2014 low).