Technical analysis of USD/CAD for June 25, 2014 Trend News

General overview for 25/06/2014 10:20 CET

The red trendline breakout might be the first clue that the downward cycle has been finished and now higher prices can be seen. A key level to the upside is at the level of 1.0751 where the intraday resistance is and a breakout is of course bullish, targeting weekly pivot and technical resistance. On the other hand, if this level holds the line, then price will get back to the yellow range zone and might test the lover boundary of this zone.

Support/Resistance:

1.0687 - WS1

1.0716 - Intraday Support

1.0715 - 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



For detail explanation and best discovery on market trends you may visit via Technical analysis of USD/CAD for June 25, 2014 . Thanks for your support on Technical analysis of USD/CAD for June 25, 2014