Short-term bullish momentum continues.
• USD/CAD's short-term bullish momentum
continues. Hourly resistance is given at 1.2619
(03/08/2017) while support can be found at
1.2414 (27/07/2017 low). Expected to show
continued consolidation above 1.2400.
• In the longer term, the pair has broken longterm support that can be found at 1.2461
(16/03/2015 low) before bouncing back. Strong
resistance is given at 1.4690 (22/01/2016 high).
The pair should head further lower.