USD/CAD is trading below the resistance at 1.2570 (04/15/2015 high). Support can be found at 1.2368 (06/02/2015 low). Nonetheless, we do not see the stronger hourly support at 1.2305 to be tested anytime soon.
In the longer term, the break of the key support at 1.2352 (02/03/2015 low) indicates increasing selling pressures, which favors further medium-term weakness. As a result, a significant top has likely been made at 1.2835 (03/18/2015 high). Support can be found at 1.1731 (01/06/2015 low).
Await New Signal
In the longer term, the break of the key support at 1.2352 (02/03/2015 low) indicates increasing selling pressures, which favors further medium-term weakness. As a result, a significant top has likely been made at 1.2835 (03/18/2015 high). Support can be found at 1.1731 (01/06/2015 low).
Await New Signal