(05 JUNE 2017)USD / CAD:Growing short-term bullish momentum.

(05 JUNE 2017)USD / CAD:Growing short-term bullish momentum.

5 June 2017, 13:48
Jiming Huang
0
19

cad

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 

(16/03/2015 low).

(By Yann Quelenn)

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