USD/CAD - Pushing Above The 1.2000 Psychological Threshold
USD/CAD moved significantly higher yesterday, breaking the psychological resistance at 1.2000. Hourly supports now lie at 1.2047 (16/01/2015 high) and 1.1935 (19/01/2015 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). A key support stands at 1.1561 (17/12/2014 low). A key resistance stands at 1.2506 (21/04/2009 high).