Commodity Prices

Gold •317 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	990.20	-5.20	-0.52%
WTI Crude •16 hours	62.49	+0.87	+1.41%
Gasoline •16 hours	2.142	+0.007	+0.35%
Ethanol •317 days	2.161	+0.000	+0.00%
Silver •317 days	30.82	+1.16	+3.92%

Silver • 317 days	30.82	+1.16	+3.92%
Copper • 317 days	4.530	+0.111	+2.51%
Brent Crude • 15 hours	65.41	+0.88	+1.36%
Natural Gas • 16 hours	3.334	-0.028	-0.83%
Heating Oil • 16 hours	2.141	-0.025	-1.17%

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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