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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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