Commodity Prices

Gold •363 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,363.20	+4.50	+0.33%
WTI Crude •10 mins	65.49	+0.04	+0.06%
Gasoline •13 mins	2.095	-0.006	-0.26%
Ethanol •363 days	2.161	+0.000	+0.00%
Silver •363 days	30.82	+1.16	+3.92%

Silver • 363 days	30.82	+1.16	+3.92%
Copper • 363 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	67.20	+0.09	+0.13%
Natural Gas • 10 mins	3.423	+0.008	+0.23%
Heating Oil • 13 mins	2.334	+0.007	+0.29%

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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