Technical analysis of USD/CAD for June 23, 2015 Market Analysis Review

General overview for 23/06/2015 13:40 CET

After breaking above the golden trendline the market is clearly in bullish cycle and the wave (iii) green is in progress right now. The immediate resistance comes with the level of 1.2360, but a higher breakout is being expected towards the level of 1.2382 and then even towards the level of 1.2478.

Support/Resistance:

1.2478 - WR2

1.2382 - WR1

1.2360 - Intraday Resistance

1.2295 - Intraday Support

Trading recommendations:

The buy orders advised yesterday should be still kept open as the price is approaching important levels. Please keep an eye on the price behavior when the level of 1.2360 is violated as any breakout higher will be considered bullish in the near term.

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