Commodity Prices

Gold •325 days	2,368.70	+35.30	+1.51%
Platinum •10 mins	1,088.40	+7.70	+0.71%
WTI Crude •23 hours	61.53	+0.33	+0.54%
Gasoline •23 hours	2.109	-0.022	-1.03%
Ethanol •325 days	2.161	+0.000	+0.00%
Silver •325 days	30.82	+1.16	+3.92%

Silver • 325 days	30.82	+1.16	+3.92%
Copper • 325 days	4.530	+0.111	+2.51%
Brent Crude • 22 hours	64.78	+0.34	+0.53%
Natural Gas • 23 hours	3.334	+0.081	+2.49%
Heating Oil • 23 hours	2.105	-0.013	-0.60%

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USD/CAD - Trying to Bounce Near The Key Support at 1.2314

By - Feb 04, 2015, 12:07 PM CST

USD/CAD further declined yesterday, confirming increasing selling pressures. Monitor the key support at 1.2314. Hourly resistances can be found at 1.2558 (02/02/2015 low) and 1.2644. Another support lies at 1.2185 (61.8% retracement, see also the steepest rising trendline).

In the longer term, the technical structure looks like a rounding bottom whose maximum upside potential is given by the strong resistance at 1.3065 (09/03/2009 high). Given the current overextended rise, the odds to see a consolidation phase are elevated. A key support stands at 1.2047 (intraday low).

Daily Technical Report