Commodity Prices

Gold •530 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,860.20	+44.30	+2.44%
WTI Crude •11 mins	55.10	-1.72	-3.03%
Gasoline •11 mins	1.684	-0.049	-2.80%
Ethanol •530 days	2.161	+0.000	+0.00%
Silver •530 days	30.82	+1.16	+3.92%

Silver • 530 days	30.82	+1.16	+3.92%
Copper • 530 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	58.83	-1.73	-2.86%
Natural Gas • 11 mins	3.866	-0.146	-3.64%
Heating Oil • 11 mins	2.131	-0.050	-2.30%

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USD/CAD: Approaching its Previous Highs

By - Nov 09, 2012, 5:25 AM CST

USD/CAD has successfully tested its short-term support area between 0.9889 and 0.9872 (38.2% retracement of the rise from 0.9633 to 1.0019). A test of the resistance at 1.0019 is likely underway. Another resistance is at 1.0085. Support is at 0.9947 (08/11/2012 low).

The underlying trend is negative (see mediumterm declining channel). Therefore, we see the rise from 0.9633 as a countertrend move. A medium-term resistance is at 1.0250 (12/07/2012 high, see also declining trendline). We also note that, thus far, the 200 day moving average has acted as resistance.

Daily Technical Report