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USD/CAD - Collapsing

By - Jun 13, 2017, 6:41 AM CDT

USD/CAD has strongly declined. Hourly support found at 1.3388 (25/01/2017 high) has been broken. Expected to show continued weakness towards stronger support given at 1.3324 (13/04/2017 low).

In the longer term, there is now a death cross with the 50 dma crossing below the 200 dma indicating further downside 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).

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