Technical analysis of USD/CAD for June 24, 2014 Trend News

General overview for 24/06/2014 09:10 CET

Not much has changed from yesterday as the market moved very little and did not broke above or below any important level. The outlook is the same as yesterday: we are waiting for one of the levels to be broken to determine further wave progression. Please notice the bullish divergence is building on the oscillator.

Support/Resistance:

1.0687 - WS1

1.0716 - Intraday Support

1.0726 - Technical Support

1.0752 - Intraday Resistance

1.0790 - Weekly Pivot

1.0804 - Technical Resistance

Trading recommendations:

Daytraders should open buy stop positions if the level of intraday resistance is broken with SL below the level of 1.0716 and TP at the level of 1.0790. Otherwise any new low will support the bearish scenario.

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



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