Commodity Prices

Gold •379 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,486.10	+51.10	+3.56%
WTI Crude •10 mins	67.45	+1.07	+1.61%
Gasoline •10 mins	2.168	+0.024	+1.11%
Ethanol •379 days	2.161	+0.000	+0.00%
Silver •379 days	30.82	+1.16	+3.92%

Silver • 379 days	30.82	+1.16	+3.92%
Copper • 379 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	69.43	+0.91	+1.33%
Natural Gas • 10 mins	3.530	-0.021	-0.59%
Heating Oil • 10 mins	2.461	+0.069	+2.90%

Headlines

763 days Will The ECB Continue To Hike Rates?
763 days Forbes: Aramco Remains Largest Company In The Middle East
765 days Caltech Scientists Succesfully Beam Back Solar Power From Space
1,165 days Could Crypto Overtake Traditional Investment?
1,170 days Americans Still Quitting Jobs At Record Pace
1,172 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
1,175 days Is The Dollar Too Strong?
1,175 days Big Tech Disappoints Investors on Earnings Calls
1,176 days Fear And Celebration On Twitter as Musk Takes The Reins
1,178 days China Is Quietly Trying To Distance Itself From Russia
1,178 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
1,182 days Crypto Investors Won Big In 2021
1,182 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
1,183 days Food Prices Are Skyrocketing As Putin’s War Persists
1,185 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
1,186 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
1,189 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
1,190 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
1,190 days Two ETFs That Could Hedge Against Extreme Market Volatility
1,192 days Are NFTs About To Take Over Gaming?

The Biggest Challenge Facing West Africa's Single Currency Plan

The Economic Community of West…

Is The Bull Market On Its Last Legs?

This aging bull market may…

Zombie Foreclosures On The Rise In The U.S.

During the quarter there were…

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

More Info

Contact Author

USD/CAD: Bullish Breakout at 1.0236

By - Apr 17, 2013, 4:59 AM CDT

USD/CAD has moved out of its declining channel and has broken the resistance at 1.0236. Further short-term strength is favoured. Hourly resistances are at 1.0285 (19/03/2013 high) and 1.0342. An hourly support can be found at 1.0203 (16/04/2013 high).

The Bank of Canada should leave rates unchanged today. All eyes will be focused on the forward bias which could be softened to a neutral bias from a tightening bias.

In the medium-term, the break of the resistance at 1.0236 (05/04/2013 high) opens the way for a new test of the previous highs at 1.0342 (01/03/2013 high). However, the extreme short CAD market positioning suggests that the next significant medium-term move is likely to be to the downside.

Daily Technical Report