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USD/CAD - Pushing Downside

USD/CAD is trading below the resistance at 1.2570 (15/04/2015 high). Support at 1.2368 (02/06/2015 low) has been broken. Hourly support can be found at 1.2169 (20/05/2015 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).

Daily Technical Report

 

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