Commodity Prices

Gold •383 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,487.00	-8.70	-0.58%
WTI Crude •55 mins	66.51	-0.69	-1.03%
Gasoline •17 mins	2.109	-0.023	-1.07%
Ethanol •383 days	2.161	+0.000	+0.00%
Silver •383 days	30.82	+1.16	+3.92%

Silver • 383 days	30.82	+1.16	+3.92%
Copper • 383 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	68.59	-0.62	-0.90%
Natural Gas • 10 mins	3.313	-0.012	-0.36%
Heating Oil • 12 mins	2.469	-0.040	-1.59%

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USD/CAD: The Key Resistance at 1.0447 Has Been Broken

By - Jun 25, 2013, 5:43 AM CDT

USD/CAD has broken the key resistance at 1.0447 (04/06/2012 high). However, strong resistances lie at 1.0524 and 1.0658. A short-term bullish bias is still favoured as long as the hourly support at 1.0440 (intraday low) holds. Another support can be found at 1.0363 (21/06/2013 low).

In the longer-term, the technical improvements (see broken declining trendlines) call for a test of the long-term declining trendline (see also the key resistance at 1.0870 (02/11/2009 high)). We favour a bullish bias as long as the support at 1.0137 (14/06/2013 low, see also the rising trendline from 0.9633 (14/09/2012 low) in a daily chart) holds. An initial key resistance lies at 1.0658 (04/10/2011 high).

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