(01 MAY 2017)USD / CAD:Strong buying pressures.

(01 MAY 2017)USD / CAD:Strong buying pressures.

1 May 2017, 15:04
Jiming Huang
0
19

CAD

Strong buying pressures.

• USD/CAD has broken key resistance given at 

1.3599 (28/12/206 high). The pair keeps on 

pushing higher. Hourly support can be found at 

1.3411 (24/04/2017 high) then 1.3353 (20/01/2017 

high). Expected to show continued bullish 

pressures as long as the pair remains above 

1.3411. 

• 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 Yann Quelenn )

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