0
47
Trying to bounce near the old support at
1.2414.
(By Peter Rosenstreich)
• USD/CAD selling pressures are back after
breaking hourly support at 1.2414 (27/07/2017
low). Resistance is now given at a distance at
1.2778 (15/08/2017 low). Expected to show
continued short-term bearish pressures if
resistance at 1.2778 holds.
• In the longer term, the pair has broken longterm support that can be found at 1.2461
(16/03/2015 low). Strong resistance is given at
1.4690 (22/01/2016 high). The pair is likely to
head further lower.