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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 - Medium-Term Reversal

USD/CAD has entered a new medium term bullish momentum. Hourly support is given at 1.2772 (12/05/2016 low) while hourly resistance at 1.3015 (18/04/2016 high) has been broken. Expected to show continued strengthening.

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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