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MIG Bank

MIG Bank

MIG Bank

MIG BANK, formerly known as MIG INVESTMENTS, was established in Neuchatel, Switzerland as an online Forex broker and in 2009 became the world's 1st Forex…

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USD/CAD - Breaking Resistance at 1.3053

USD/CAD is still increasing. Hourly resistance at 1.3053 has been broken (22/07/2015 high). Hourly support is given at 1.2540 (02/07/2015 low). Stronger support can be found at 1.2363 (30/06/2015 low). While we remain bullish on the pair as long as the technical structure suggests an upside momentum, we are still expecting a bounce in the short-term.

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 1.3103 (16/07/2015 high). Support can be found at 1.1731 (06/01/2015 low).

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