Technical analysis of USD/CAD for September 15, 2015 Market Analysis Review

General overview for 15/09/2015 07:30 CET

As anticipated yesterday, the congestion zone still presents as the market has not even tryed to break the range yet. Nevertheless, any breakout above the level of 1.3325 will invalidate an impulsive bearish count. It is expected to reach a new high above the level of 1.3352 (it will be the last high in this market anyway).

Support/Resistnace:

1.3399 - WR2

1.3353 - Swing High

1.3334 - WR1

1.3325 - Intraday Resistnace

1.3243 - Weekly Pivot

1.3178 - WS1

1.3152 - Intraday Support

1.3136 - Intraday Support

1.3114 - Technical Support

Trading recommendations:

Daytraders should consider opening sell orders from current market levels with SL just above the level of 1.3325 and TP at the level of 1.3152.

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

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