Ready for a bullish breakout.
(By Yann Quelenn)
• USD/CAD continues to move higher within
uptrend channel. Strong support is located at a
distance 1.2062 (08/09/2017 low). Hourly support
lies at 1.2331 (26/09/2017 high). Resistance is
given at 1.2663 (31/08/2017 high). Expected to
show continued short-term bullish 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.