Weakening.
• USD/CAD has declined after failing to reach
1.3800 before bouncing back. Hourly support
can be found at 1.3411 (24/04/2017 high) then
1.3353 (20/01/2017 high). Expected to show
bearish pressures as the pair remains broke
support at 1.3530 (27/04/2017 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 Yann Quelenn)
