USD/CAD is now pushing towards 1.300. Hourly support is given at 1.2540 (02/07/2015 low). Stronger hourly support can be found at 1.2363 (30/06/2015 low). We remain bullish on the pair as long as the technical structure suggests an upside momentum.
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 1.2973 (16/07/2015 high). Support can be found at 1.1731 (06/01/2015 low).
Daily Technical Report
