08th May - USD/CAD at First Key Long Term Support
08 May 2014
WEEKLY CHART:
The long term recovery earlier tested resistance around the channel top and 50% retracement, failing to push through.
So far, the market has pulled back to the 23.6% level.
DAILY CHART:
The earlier bull move stopped short of a Fibo projection, and subsequent weakness could develop into something longer lasting if the 23.6% support (above) gives way.
The next meaningful supports on this chart begin with the 1.0608 Jul-13 high.
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01st May - Copper Holding Above Long Term 50% Support