Commodity Prices

Gold •380 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,456.60	-15.50	-1.05%
WTI Crude •2 hours	67.34	-0.20	-0.30%
Gasoline •2 hours	2.153	-0.017	-0.78%
Ethanol •380 days	2.161	+0.000	+0.00%
Silver •380 days	30.82	+1.16	+3.92%

Silver • 380 days	30.82	+1.16	+3.92%
Copper • 380 days	4.530	+0.111	+2.51%
Brent Crude • 56 mins	69.28	-0.24	-0.35%
Natural Gas • 2 hours	3.565	+0.023	+0.65%
Heating Oil • 2 hours	2.453	-0.012	-0.47%

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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.

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