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

General overview for 23/07/2015 09:30 CET

The impulsive wave development is in progress now as wave 2 black hit a low at the level of 1.2915. Currently, the market could try to test the golden trendline from the upside and bounce to continue its rally. Target is still seen at the level of 1.3072 (weekly pivot resistance level 3).

Support/Resistance:

1.3072 - WR3

1.3052 - Intraday Resistance

1.3022 - WR2

1.3006 - WR1

1.2955 - Weekly Pivot

Trading recommendations:

The buy orders opened yesterday should be still kept open as the TP at the level of 1.3072 might be hit any time now.

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

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