Growing short-term bullish momentum.
• USD/CAD is trading above 1.3500. The pair has
exited downtrend channel. Hourly support can
be found at 1.3424 (28/05/2017 low) then 1.3388
(25/01/2017 high). Expected to show continued
very short-term bullish pressures,
• 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
(By Yann Quelenn)