Commodity Prices

Gold •441 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,387.40	+10.80	+0.78%
WTI Crude •11 mins	64.05	+0.35	+0.55%
Gasoline •11 mins	2.013	-0.015	-0.75%
Ethanol •441 days	2.161	+0.000	+0.00%
Silver •441 days	30.82	+1.16	+3.92%

Silver • 441 days	30.82	+1.16	+3.92%
Copper • 441 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.94	-0.01	-0.01%
Natural Gas • 11 mins	3.044	-0.056	-1.81%
Heating Oil • 11 mins	2.355	-0.000	-0.01%

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USD/CAD: Challenging a Major Resistance Area

By - Jan 08, 2014, 5:49 AM CST

USD/CAD has broken to the upside its horizontal range between 1.0559 and 1.0738. The implied short-term upside potential is 1.0917. Monitor the major resistance area near 1.0870 (see also the 38.2% retracement). A support now stands at 1.0732 (intraday low).

In the longer term, the strong resistance at 1.0870 (02/11/2009 high, see also the long-term declining trendline from the October 2002 peak) continues to represent a major hurdle. However, a decisive break would validate a multi-year basing formation whose upside potential is around 1.1910.

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