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.