Commodity Prices

Gold •345 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,211.90	-63.20	-4.96%
WTI Crude •8 hours	72.98	+4.94	+7.26%
Gasoline •8 hours	2.228	+0.085	+3.95%
Ethanol •345 days	2.161	+0.000	+0.00%
Silver •345 days	30.82	+1.16	+3.92%

Silver • 345 days	30.82	+1.16	+3.92%
Copper • 345 days	4.530	+0.111	+2.51%
Brent Crude • 7 hours	74.23	+4.87	+7.02%
Natural Gas • 8 hours	3.581	+0.089	+2.55%
Heating Oil • 8 hours	2.359	+0.170	+7.77%

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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