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 )
