Commodity Prices

Gold •645 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	2,101.50	-10.60	-0.50%
WTI Crude •11 mins	98.53	+0.66	+0.67%
Gasoline •18 mins	3.021	+0.021	+0.69%
Ethanol •645 days	2.161	+0.000	+0.00%
Silver •645 days	30.82	+1.16	+3.92%

Silver • 645 days	30.82	+1.16	+3.92%
Copper • 645 days	4.530	+0.111	+2.51%
Brent Crude • 2 hours	95.92	+1.17	+1.23%
Natural Gas • 12 mins	2.673	+0.003	+0.11%
Heating Oil • 17 mins	3.962	+0.025	+0.62%

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USD/CAD: Drifting Lower

By - Mar 06, 2014, 5:33 AM CST

USD/CAD remains in a declining short-term channel, as can be seen by the recent new lows below the support at 1.1039. An hourly support stands at 1.1019 (61.8% retracement). Hourly resistances are given by the declining channel (around 1.1121) and 1.1160 (27/02/2014 high).

In the longer term, the decisive break of the major resistance at 1.0870 validates a multi-year basing formation whose minimum upside potential is around 1.1910. A first resistance is given by the 50% retracement of the decline from the September 2009 peak at 1.3065 (around 1.1236). A support stands at 1.0911 (19/02/2014 low).

Daily Technical Report