Commodity Prices

Gold •636 days	2,368.70	+35.30	+1.51%
Platinum •15 mins	1,966.50	-3.70	-0.19%
WTI Crude •11 mins	97.77	-3.61	-3.56%
Gasoline •11 mins	3.107	-0.097	-3.03%
Ethanol •636 days	2.161	+0.000	+0.00%
Silver •636 days	30.82	+1.16	+3.92%

Silver • 636 days	30.82	+1.16	+3.92%
Copper • 636 days	4.530	+0.111	+2.51%
Brent Crude • 11 mins	100.53	-3.44	-3.31%
Natural Gas • 11 mins	2.868	-0.016	-0.55%
Heating Oil • 11 mins	4.014	-0.099	-2.42%

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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