Wide-open for further downside.
(By Yann Quelenn)
• USD/CAD is weakening after set-up a
resistance at 1.2917 (27/10/2017 low). This
suggests an extension of bullish momentum.
Hourly support lies at 1.2331 (26/09/2017 high).
Expected to show continued short-term bullish
• 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.