Technical analysis of USD/CAD for June 18, 2014 Trend News

General overview for 18/06/2014 08:10 CET

The market conditions are rather muted and the upward wave development might wait for some fundamental trigger to speed up on this pair. Currently the price is just bellow important resistance zone and it has broken out of the golden channel already. The bias is still bullish and higher prices might be seen if the key level is broken. On the other hand, any breakout below the level of 1.0835 is bearish and technical support zone will be tested next.

Support/Resistance:

1.0805 - WS1

1.0821 - Technical Support

1.0835 - Intraday Support

1.0872 - Weekly Pivot

1.0874 - Intraday Resistance

1.0884 - Key Level

1.0904 - WR1

1.0959 - Technical Resistance

Trading recommendations:

Still no new positions are advised until a clear pattern will emerge or the market will break out above the important level. Patience.

The material has been provided by InstaForex Company - www.instaforex.com



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