The pair is moving between the sidelines of 1.0955-1.1090. In Asia, the pair is trading at the level of 1.1096. As of now, the pair has been unable to cross the Friday's high, making lower highs formation. In the bullish front the pair is trading above all short- and medium-term moving averages. Further movement in the price action will take place only after a breakout happens either side. On the lower side, 1.1073, 1.1036, and 1.0955 are possible targets until the price gives a breakout to the upside. Major weakness is only below 1.0910 towards 1.0750 and 1.0645. On the upside, if the pair gives a breakout (flag pattern), the next possible targets will be at the level of 1.2195.
Intraday
S1 1.1089 R1 1.1111
S2 1.1079 R2 1.1131
S3 1.1041 R3 1.1154
Recommendation-
Sell below 1.1075, target is 1.1044
Buy with sl 1.10798, targets at 1.1224 and 1.1468.
The material has been provided by InstaForex Company - www.instaforex.comFor detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CAD for March 17, 2014 . Thanks for your support on Technical analysis of USD/CAD for March 17, 2014
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