Bearish.
(By Yann Quelenn )
• USD/CAD is moving lower, confirming an
underlying declining trend. Hourly support is
located at 1.1945 (29/04/2015 low). Resistance is
now given at a distance at 1.2778 (15/08/2017
low). Expected to show continued short-term
bearish pressures.
• 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.
