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USD/CAD - Targeting Again 1.3000

USD/CAD is pushing lower. The pair had largely bounced higher from former support given at 1.3000 (22/09/2016 low). Hourly resistance can be found far away at 1.3353 (20/01/2017 high). Yet, as long as this resistance is not broken (20/01/2017 high), the pair should head lower towards support at 1.2823 (07/09/2016 low).

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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