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 )
