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USD/CAD - Wide-Open For Further Weakness

USD/CAD continues to push lower. Closest hourly resistance can be found at 1.3353 (05/12/2016 high) while key resistance lies at 1.3589 (14/11/2016 high). There is no close support. Expected to further weaken.

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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