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USD/CAD - Setting an 11-Year High

USD/CAD's bullish momentum is still very strong as resistance at 1.3457 (29/09/2015 high) has been broken. Significant support stands at 1.3225 (12/11/2015 low). Expected to show continued bullish momentum as uptrend is still in play.

In the longer term, the break of the key resistance at 1.3065 (13/03/2009 high) has indicated increasing buying pressures, which favours further medium-term strengthening. Support can be found at 1.2832 (15/10/2015 low) then 1.1731 (06/01/2015 low).

Daily Technical Report

 

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