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USD/CAD - Increasing Demand In The Short Term

USD/CAD keeps on pushing higher. The pair is now consolidating. There is still a strong upside momentum. Resistance given at 1.3535 (09/03/2017 high) has been broken. Hourly support can be found at 1.3411 (24/04/2017 high) then 1.3353 (20/01/2017 high).

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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