USD/CAD’s short-term bullish momentum continues. Hourly resistance is given at 1.2619 (03/08/2017) while support can be found at 1.2414 (27/07/2017 low). Expected to show continued consolidation above 1.2400.
In the longer term, the pair has broken longterm support that can be found at 1.2461 (16/03/2015 low) before bouncing back. Strong resistance is given at 1.4690 (22/01/2016 high). The pair should head further lower.