(13 NOVEMBER 2017)USD / CAD:Ready to bounce back

(13 NOVEMBER 2017)USD / CAD:Ready to bounce back

13 November 2017, 12:47
Jiming Huang
0
15
cad

Ready to bounce back

(By Yann Quelenn)

• USD/CAD continues to decline, but at a slower

pace, after the set-up of a resistance at 1.2917

(27/10/2017 low). Hourly support lies at 1.2667

(10/11/2017 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.

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