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MIG Bank

MIG Bank

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…

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USD/CAD: Grinding Higher

USD/CAD is challenging the resistance at 1.0318 (18/09/2013 high). Another resistance can be found at 1.0358. An hourly support is at 1.0263 (20/09/2013 low). A key support area stands around 1.0182 (see the long-term rising trendline and the 200 day moving average).

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. Furthermore, a decisive break of the support area between 1.0246 (31/07/2013 low) and the long-term rising trendline (around 1.0200) would deteriorate the long-term technical structure.

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