Commodity Prices

Gold •362 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,354.90	+11.90	+0.89%
WTI Crude •10 mins	64.71	-0.40	-0.61%
Gasoline •8 hours	2.080	-0.010	-0.48%
Ethanol •362 days	2.161	+0.000	+0.00%
Silver •362 days	30.82	+1.16	+3.92%

Silver • 362 days	30.82	+1.16	+3.92%
Copper • 362 days	4.530	+0.111	+2.51%
Brent Crude • 8 hours	67.61	-0.16	-0.24%
Natural Gas • 10 mins	3.447	-0.009	-0.26%
Heating Oil • 8 hours	2.346	+0.039	+1.67%

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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