Wide-open for further decline.
• USD/CAD keeps on weakening since the pair
reached 1.3800. Hourly support can be found at
1.3411 (24/04/2017 high) then 1.3353 (20/01/2017
high). Expected to show continued bearish
pressures.
• 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)
