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USD/CAD - Strong Weakness

USD/CAD has exited downtrend channel. Closest resistance lies at 1.3589 (14/11/2016 high). Expected to see continued weakening towards support at 1.3265.

In the longer term, there is a golden cross with the 50 dma crossing the 200 dma indicating further upside pressures. Strong resistance is given at 1.4690 (22/01/2016 high). Long-term support can be found at 1.2461 (16/03/2015 low).

Daily Technical Report

 

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