Commodity Prices

Gold •747 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,615.60	+11.60	+0.72%
WTI Crude •11 mins	82.24	-0.24	-0.29%
Gasoline •12 mins	3.387	-0.002	-0.06%
Ethanol •747 days	2.161	+0.000	+0.00%
Silver •747 days	30.82	+1.16	+3.92%

Silver • 747 days	30.82	+1.16	+3.92%
Copper • 747 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	88.65	-0.57	-0.64%
Natural Gas • 11 mins	2.855	-0.005	-0.17%
Heating Oil • 29 mins	4.102	-0.017	-0.41%

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USD/CAD - Short-Term Exhaustion in The Selling Pressure?

By - Jul 08, 2014, 5:40 AM CDT

USD/CAD bounced close to the key support implied by its long-term rising trendline (around 1.0643) yesterday. A break of the hourly resistance at 1.0697 (27/06/2014 high) would confirm a short-term rebound. Another resistance can be found at 1.0752 (25/06/2014 high), whereas another strong support stands at 1.0559.

In the longer term, the technical structure looks like a rounding bottom whose minimum upside potential is at 1.1725. However, a break of the support area implied by the long-term rising trendline (around 1.0643) and 1.0559 (29/11/2013 low) would invalidate this long-term bullish configuration.

Daily Technical Report