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USD/CAD - Bullish Breakout of The Resistance at 1.2200

USD/CAD has moved above 1.2200 and holds above this level where there is buying interest. Hourly resistance can be found at at 1.2306 (21/04/2015 high). Support can be found at 1.1920 (15/05/2015 low).

In the longer term, the break of the key support at 1.2352 (03/02/2015 low) indicates increasing selling pressures, which favours further medium-term weakness. As a result, a significant top has likely been made at 1.2835 (18/03/2015 high). Support can be found at 1.1731 (06/01/2015 low).

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