USD/CAD is moving above its short-term declining trendline, suggesting an increasing buying interest. An hourly resistance lies at 1.1424 (02/12/2014 high), while a key resistance stands at 1.1467. Hourly supports can be found at 1.1340 (04/12/2014 low) and 1.1317 (61.8% retracement).
In the longer term, the technical structure looks like a rounding bottom whose minimum upside potential is at 1.1725. However, as highlighted by the recent prices behaviour, this expected rise is likely to be very gradual. A strong support stands at 1.1072 (02/10/2014 low).
Daily Technical Report
