(04 SEPTEMBER 2017)USD / CAD:Trying to bounce near the old support at 1.2414.

Trying to bounce near the old support at 

1.2414.

(By Peter Rosenstreich)

• USD/CAD selling pressures are back after 

breaking hourly support at 1.2414 (27/07/2017 

low). Resistance is now given at a distance at 

1.2778 (15/08/2017 low). Expected to show 

continued short-term bearish pressures if 

resistance at 1.2778 holds. 

• In the longer term, the pair has broken longterm support that can be found at 1.2461 

(16/03/2015 low). Strong resistance is given at 

1.4690 (22/01/2016 high). The pair is likely to 

head further lower.