Commodity Prices

Gold •484 days	2,368.70	+35.30	+1.51%
Platinum •20 mins	1,613.20	-1.10	-0.07%
WTI Crude •11 mins	60.25	-0.32	-0.53%
Gasoline •1 hour	2.003	+0.030	+1.50%
Ethanol •484 days	2.161	+0.000	+0.00%
Silver •484 days	30.82	+1.16	+3.92%

Silver • 484 days	30.82	+1.16	+3.92%
Copper • 484 days	4.530	+0.111	+2.51%
Brent Crude • 1 hour	65.00	+0.08	+0.12%
Natural Gas • 11 mins	4.077	+0.121	+3.06%
Heating Oil • 45 mins	2.460	+0.036	+1.47%

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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