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USD/CAD - Bearish Move Won't End Soon

USD/CAD's bearish momentum is still on. Hourly support is located at 1.2514 (intraday low) while hourly resistance is given at 1.2694 (27/04/2016 high). Expected to show continued decline.

In the longer term, the pair is now trading well below the 200-day moving average. Strong resistance is given at 1.4948 (21/03/2003 high). Stronger support can be found at 1.1731 (06/01/2015 low).

Daily Technical Report

 

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