The pair breached the resistance at 1.0960 and closed at that level. Today in Asia's session, the pair is moving upwards. The pair has support at 1.0958 below this, 1.0945 is the strong support for this intra week. One can sell below 1.0940 for a target of 1.09. In the daily chart, the RSI and Stochastics look overbought. Hope it will pause the fall for a while at 1.0989-1.1 or even higher at 1.1025.
Support 1.0958 1.0945 1.09
Resistance 1.0989 1.1 1.1025
Intraday cmp 1.0969
The pair trading above hourly moving averages. It has the nearest resistance at 1.0977 (yesterday's high). The pair has an hourly support at 1.0958 below this, 1.0945, 1.0930 and 1.0915.
Risky traders can sell below 1.0958.
Safe traders sell below 1.09 with targets at 1.0885, 1.0877, and 1.0845.
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 August 06, 2014 . Thanks for your support on Technical Analysis of USD/CAD for August 06, 2014
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