(07 AUGUST 2017)USD / CAD:Short-term bullish momentum continues.

(07 AUGUST 2017)USD / CAD:Short-term bullish momentum continues.

7 August 2017, 13:42
Jiming Huang
0
17

cad

Short-term bullish momentum continues.

(Yann Quelenn)

• 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.


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