Commodity Prices

Gold •14 mins	2,410.80	+12.80	+0.53%
Platinum •14 mins	942.10	-12.40	-1.30%
WTI Crude •10 mins	83.20	+0.47	+0.57%
Gasoline •10 mins	2.712	-0.002	-0.07%
Ethanol •48 mins	2.161	+0.000	+0.00%
Silver •14 mins	28.82	+0.44	+1.53%

Silver • 14 mins	28.82	+0.44	+1.53%
Copper • 14 mins	4.492	+0.056	+1.25%
Brent Crude • 10 mins	87.29	+0.18	+0.21%
Natural Gas • 10 mins	1.755	-0.002	-0.11%
Heating Oil • 10 mins	2.545	+0.011	+0.44%

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USD/CAD: The Resistance at 1.0556 Has Been Broken

By - Jul 08, 2013, 4:59 AM CDT

USD/CAD has broken the key resistance at 1.0556. However, another strong resistance lies at 1.0658. Hourly supports are at 1.0512 (05/07/2013 low) and 1.0472 (04/07/2013 low).

In the longer-term, the technical improvements call for a test of the key resistance at 1.0870 (02/11/2009 high, see also the long-term declining trendline from the October 2002 peak). We favour a medium-term 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 support lies at 1.0424 (27/06/2013 low).

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