(06 NOVEMBER 2017)USD / CAD:Wide-open for further downside.

(06 NOVEMBER 2017)USD / CAD:Wide-open for further downside.

6 November 2017, 12:54
Jiming Huang
0
20

cae

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

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.


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