The pair is facing weekly resistance at 1.0887 (20WSma), above this, it can fly up to 1.0960 and 1.1040 levels. The pair has strong support at 1.0752 (50WSma). The pair made a double bottom and held the support at 50DSma. On a weekly basis, the pair has strong resistance at 1.0893. We recommend fresh buying above 1.09 for targets at 1.0960 and 1.1 with support at 1.0834, 1.0786 and 1.0774 levels.
For an intraday basis, the hourly momentum oscillators are giving overbought signals. The pair is trading above the hourly moving averages. It has support at 1.0845, 1.0826, 1.08 and 1.0777 levels. The pair sets for panic below 1.0756 towards 1.0738, 1.0708.
Risky trades can sell below 1.0845.
Safe traders, sell below 1.0756.
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Performed by Joseph Wind, Analytical expert InstaForex Group © 2007-2014 |
Technical analysis of USD/CAD for July 30, 2014
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