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Market Sentiment At Its Lowest In 10 Months

Market Sentiment At Its Lowest In 10 Months

Stocks sold off last week…

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USD/CAD - Selling Pressures Are Still On

USD/CAD's bearish momentum is still lively, despite it fails to test strong support at 1.3300. Hourly support is given at 1.3386 (01/03/2016 low). Hourly resistance can be found at 1.3587 (29/02/2016 high). Expected to see further weakening.

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 1.4948 (21/03/2003 high). Support can be found at 1.2832 (15/10/2015 low) then 1.1731 (06/01/2015 low).

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