Commodity Prices

Gold •294 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	978.50	-1.10	-0.11%
WTI Crude •10 mins	62.31	+0.04	+0.06%
Gasoline •1 hour	2.081	-0.003	-0.12%
Ethanol •294 days	2.161	+0.000	+0.00%
Silver •294 days	30.82	+1.16	+3.92%

Silver • 294 days	30.82	+1.16	+3.92%
Copper • 294 days	4.530	+0.111	+2.51%
Brent Crude • 10 mins	66.15	+0.03	+0.05%
Natural Gas • 14 mins	2.997	-0.025	-0.83%
Heating Oil • 52 mins	2.122	-0.005	-0.22%

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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