(17 APRIL 2017):USD / CAD:Weak bounce.

(17 APRIL 2017):USD / CAD:Weak bounce.

18 April 2017, 10:57
Jiming Huang
0
33

CAD


Weak bounce. 

• USD/CAD has broken the support at 1.3265 

confirming an underlying bearish trend. Hourly 

resistances can now be found at 1.3340 (intraday 

high) and 1.3456 (04/04/2017 high). 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 )

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