Buying demand is fading.
• USD/CAD is in a consolidation phase after the
strong decline. Hourly support lies at 1.3165
(14/06/2017 high). Expected to show continued
weakness towards support given at 1.3010
(16/02/2017 low).
• In the longer term, the pair lies in a bullish
channel since a year. 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)
