Commodity Prices

Gold •706 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,677.30	-34.30	-2.00%
WTI Crude •11 mins	89.22	+1.02	+1.16%
Gasoline •11 mins	3.047	+0.026	+0.85%
Ethanol •706 days	2.161	+0.000	+0.00%
Silver •706 days	30.82	+1.16	+3.92%

Silver • 706 days	30.82	+1.16	+3.92%
Copper • 706 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	92.33	+0.88	+0.96%
Natural Gas • 11 mins	3.231	+0.091	+2.90%
Heating Oil • 11 mins	3.571	+0.030	+0.84%

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USD/CAD Pushing Back Above the 200-Day Average

By - Apr 26, 2012, 5:56 AM CDT

USD/CAD is continuing to push lower beneath its multi-week range and now approaches next support at 0.9776 (TD Risk Level).

Only a sustained break back beneath 0.9776 would resume the multi-month downtrend into next support at 0.9726.

Meanwhile, the bulls still need to push above the long-term 200-day moving average, then 1.0080 to signal a potential upside recovery.

Such a scenario would target resistance at 1.0160, then 1.0250 and resume the larger cycle recovery higher into 1.0424 (14th December high).

EUR/CAD, which tends to share a positive correlation with EUR/USD, is still range bound after the recent sharp drop which was triggered by a DeMark™ exhaustion signal. Watch for renewed downside pressure back into key support at 1.2877 (2012 low).

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