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USD/CAD - Stalling Below Resistance At 1.3433

By - Nov 03, 2016, 6:17 AM CDT

USD/CAD's bullish momentum is fading. However, the pair is still trading within resistance area between 1.3278 (24/10/2016 low) and 1.3433 (28/10/2016 high). Expected to see another monitoring of resistance at 1.3433. Key support at 1.3000 (22/09/2016 low) seems far.

In the longer term, the pair is trading around its 200-day moving average. Strong resistance is given at 1.4690 (22/01/2016 high). Long-term support can be found at 1.2461 (16/03/2015 low). The pair is likely in a consolidation phase within a new long-term increase.

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