(29 MAY 2017)USD / CAD:Riding downtrend channel.

(29 MAY 2017)USD / CAD:Riding downtrend channel.

29 May 2017, 14:13
Jiming Huang
0
19

cad

Riding downtrend channel.

• 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 within downtrend channel. 

• In the longer term, there is now a death cross 

with the 50 dma crossing below the 200 dma 

indicating further downside 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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