USD/CAD - The Bullish Trend Continues
USD/CAD is still increasing. The pair is at its highest level in 11 years. Strong resistance lies at 1.4002 (21/05/2004 high). Hourly support is given at 1.2540 (02/07/2015 low). Stronger support can be found at 1.2363 (30/06/2015 low). We remain bullish on the pair as long as the pair is following the short-term trend-line.
In the longer term, the break of the key resistance at 1.3065 (13/03/2009 high) indicates increasing buying pressures, which favours further medium-term strengthening. Support can be found at 1.1731 (06/01/2015 low).