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MIG Bank

MIG Bank

MIG Bank

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 - Lack of Follow-Through

USD/CAD is showing strong bearish pressures. However, the pair has failed to hold below broken support at 1.3082 (14/12/2016 low). Key resistance is located at a distant 1.3599 (14/11/2016 high). Key support can be found at 1.3006 (19/10/2016 low). Expected to go further lower.

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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