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Sideways price action.
(By Yann Quelenn)
• USD/CAD has failed to clear resistance
indicating downside risks. Hourly resistance can
be found at 1.2837 (21/11/2017 high). Hourly
support lies at 1.2667 (10/11/2017 low). Expected
to show 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.
