USD/CAD bullish momentum pushed the pair above the 1.30 range, breaking hourly resistance at 1.2998 (05/03/2018 high) and heading for hourly resistance at 1.3117 (28/06/2017 high). Hourly support is maintained at 1.2805 (12/03/2018 low). The short-term technical structure suggests further short-term increase.
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.
