USD/CAD continues its rise, breaking hourly resistance at1.2917 (27/10/2018 high) and approaching new hourly resistance at 1.3015 (05/07/2017 high). Hourly support at 1.2668 (26/02/2018 low) is distanced. 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.
