Commodity Prices

Gold •387 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,422.80	-17.70	-1.23%
WTI Crude •3 hours	65.16	-0.87	-1.32%
Gasoline •3 hours	2.097	-0.007	-0.34%
Ethanol •387 days	2.161	+0.000	+0.00%
Silver •387 days	30.82	+1.16	+3.92%

Silver • 387 days	30.82	+1.16	+3.92%
Copper • 387 days	4.530	+0.111	+2.51%
Brent Crude • 3 hours	68.44	-0.74	-1.07%
Natural Gas • 3 hours	3.110	+0.016	+0.52%
Heating Oil • 3 hours	2.406	-0.007	-0.28%

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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