USD/CAD
The pair has been in a downtrend at 1.1053 levels. We recommended yesterday buying at cmp and on dip. The same strategy we are following today. As of now, the pair opened today on a bullish note. In Asia's trading session the pair is trading at 1.0970 levels. On the down side, the level of 1.0943 is the support below this, 1.0919 and 1.0879 is the next support level. On the upside, the pair has resistance at 1.10 and 1.1020 levels. Once it crosses above 1.0980 levels, it will fly up to 1.1010, 1.1030 and 1.1050 levels. A day close above the 1.1050 levels, the bulls will be back on track completely.
For intraday purpose, the pair is facing resistance levels at 1.0979. Fresh buyers can buy only above this level for 1.0995, 1.1011 and 1.1020 levels. More upside is only above 1.1020 for 1.1040 and 1.1050 levels. The support comes at 1.0955 and 1.0943 levels.
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 May 01, 2014 . Thanks for your support on Technical analysis of USD/CAD for May 01, 2014
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