USD/CAD continues to decline, but at a slower pace, after the set-up of a resistance at 1.2917 (27/10/2017 low). This suggests a further extension of bullish momentum. Hourly support lies at 1.2703 (06/11/2017 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.
