Commodity Prices

Gold •755 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,606.10	-17.20	-1.06%
WTI Crude •11 mins	82.12	+2.86	+3.61%
Gasoline •1 hour	3.357	+0.022	+0.67%
Ethanol •755 days	2.161	+0.000	+0.00%
Silver •755 days	30.82	+1.16	+3.92%

Silver • 755 days	30.82	+1.16	+3.92%
Copper • 755 days	4.530	+0.111	+2.51%
Brent Crude • 12 mins	87.22	+3.13	+3.72%
Natural Gas • 24 mins	2.653	-0.009	-0.34%
Heating Oil • 11 mins	4.234	+0.083	+1.99%

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USD/CAD: Consolidating After Sharp Decline

By - Oct 09, 2012, 5:36 AM CDT

USD/CAD's wild swings on 5 October has created a support at 0.9736 (05/10/2012 low), which is strengthened by the proximity of the short-term support at 0.9726. An hourly resistance can be found at 0.9812 (05/10/2012 high).

The succession of lower highs since March 2009 favours an underlying bearish bias. Indeed, the break of the support at 0.9725 opens the way for a medium-term move towards the strong support at 0.9407. A break of the resistance at 0.9949 is needed to negate this bias.

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