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USD/CAD - Consolidating

USD/CAD strong upside momentum has paused below 1.4000. Hourly (and long-term) resistance holds at 1.4001. Significant support stands at 1.3225 (12/11/2015 low). Expected to keep going this consolidating phase.

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. Strong resistance is given at 1.4002 (18/05/2004). Support can be found at 1.2832 (15/10/2015 low) then 1.1731 (06/01/2015 low).

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