Choppy trading.
• USD/CAD has broken resistance area around
1.3400 which invalidates the short term bearish
technical structure. Hourly support is given at
1.3265 (21/03/2016 low) is at stake. Key support
is given at 1.2969 (31/01/2017 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).
(By Peter Rosenstreich )
