USD/CAD recent bounce continues, the pair trades above 1.28 and broke hourly resistance at 1.2796 (25/12/2018 high), approaching hourly resistance at 1.2874 (29/11/2017 high). Hourly support is maintained at 1.2466 (15/02/2018 low). The technical structure indicates that continued rise is expected in the short-term.
In the longer term, the pair is trading between resistance point at 1.3805 (05/05/2017 high) and support at 1.2128 (18/06/2015 low). Strong resistance is given at 1.4690 (22/01/2016 high). The pair is likely to head lower. The pairs is trading above its 200 DMA
, approaching hourly resistance at 1.2874 (29/11/2017 high). Hourly support is maintained at 1.2466 (15/02/2018 low). The technical structure indicates that continued rise is expected in the short-term.){kind=link}