(22 MAY 2017)USD / CAD:Wide-open for further decline.

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)