Commodity Prices

Gold •771 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,746.50	+14.30	+0.83%
WTI Crude •10 mins	81.33	+0.08	+0.10%
Gasoline •10 mins	3.116	-0.012	-0.40%
Ethanol •771 days	2.161	+0.000	+0.00%
Silver •771 days	30.82	+1.16	+3.92%

Silver • 771 days	30.82	+1.16	+3.92%
Copper • 771 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	87.28	+0.21	+0.24%
Natural Gas • 11 mins	2.772	+0.045	+1.65%
Heating Oil • 10 mins	4.225	-0.026	-0.61%

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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.

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