Commodity Prices

Gold •313 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	987.20	+11.60	+1.19%
WTI Crude •10 mins	61.98	+0.03	+0.05%
Gasoline •10 mins	2.129	-0.004	-0.19%
Ethanol •313 days	2.161	+0.000	+0.00%
Silver •313 days	30.82	+1.16	+3.92%

Silver • 313 days	30.82	+1.16	+3.92%
Copper • 313 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	64.97	+0.01	+0.02%
Natural Gas • 10 mins	3.723	+0.077	+2.11%
Heating Oil • 10 mins	2.108	-0.003	-0.14%

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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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