• 842 days Will The ECB Continue To Hike Rates?
  • 842 days Forbes: Aramco Remains Largest Company In The Middle East
  • 844 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 1,244 days Could Crypto Overtake Traditional Investment?
  • 1,248 days Americans Still Quitting Jobs At Record Pace
  • 1,250 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 1,254 days Is The Dollar Too Strong?
  • 1,254 days Big Tech Disappoints Investors on Earnings Calls
  • 1,255 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 1,256 days China Is Quietly Trying To Distance Itself From Russia
  • 1,257 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 1,261 days Crypto Investors Won Big In 2021
  • 1,261 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 1,262 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 1,264 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 1,264 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 1,268 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 1,269 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 1,269 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 1,271 days Are NFTs About To Take Over Gaming?
Is The Bull Market On Its Last Legs?

Is The Bull Market On Its Last Legs?

This aging bull market may…

How The Ultra-Wealthy Are Using Art To Dodge Taxes

How The Ultra-Wealthy Are Using Art To Dodge Taxes

More freeports open around the…

  1. Home
  2. Markets
  3. Other

USD/CAD: Approaching The Key Short-Term Resistance at 1.0445

USD/CAD is likely in corrective phase following its decline from its 1.0609 peak. Even though scope is still seen for a move higher back towards the key resistance at 1.0445 (07/08/2013), a lower high is sought in the 1.0400 region for a fresh leg lower to retest the 1.0246 low (01/08/2013). This would probably give way for a return to long term trend line support from 0.9633 (14/09/2012 low), close to the 200 day moving average, currently at 1.0161.

In the longer term, the key resistance at 1.0870 (02/11/2009 high, see also the long-term declining trendline from the October 2002 peak) is expected to cap the medium-term upside potential. However, as long as the support at 1.0137 (14/06/2013 low) holds, we would still favour a mild medium-term bullish bias.

Daily Technical Report

 

Read the Report

Back to homepage

Leave a comment

Leave a comment