Technical analysis of USD/CAD for June 11, 2015 Market Analysis Review

General overview for 11/06/2015 07:10 CET

The corrective rebound has broken marginally higher than yesterday's intraday resistance level. Currently, it looks to be out of a trend again. The price is still trading inside of the black dashed channel and the current key level to the upside is intraday resistance at 1.2306. Any breakout higher might result in a test at level of 1.2350.

Support/Resistance:

1.2350 - Intraday Resistance

1.2342 - WS1

1.2306 - Intraday Resistance

1.2256 - WS2

1.2201 - Intraday Support

Trading recommendations:

Daytraders might consider to open sell orders from the level of 1.2306 with SL above the level of 1.2320 and TP at the level of 1.2201.

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