Commodity Prices

Gold •713 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,796.90	-17.80	-0.98%
WTI Crude •11 mins	75.56	-0.49	-0.64%
Gasoline •33 mins	2.884	+0.004	+0.13%
Ethanol •713 days	2.161	+0.000	+0.00%
Silver •713 days	30.82	+1.16	+3.92%

Silver • 713 days	30.82	+1.16	+3.92%
Copper • 713 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	78.55	-0.41	-0.52%
Natural Gas • 11 mins	3.245	+0.006	+0.19%
Heating Oil • 12 mins	3.192	+0.022	+0.69%

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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