USD/CAD Technical Analysis: Digesting Above 1.25 Figure

| 6 juli, 2015 | 0 kommentarer

To receive Ilya’s analysis directly via email, please SIGN UP HERE

Talking Points:

  • USD/CAD Technical Strategy: Flat
  • Support: 1.2524, 1.2448, 1.2372
  • Resistance: 1.2618, 1.2770, 1.2922

The US Dollar continues to consolidate above the 1.25 figure against its Canadian counterpart having advanced to the highest level in three months. A daily close above the 76.4% Fibonacci expansion at 1.2618 exposes the 100% level at 1.2770. Alternatively, a turn below the 61.8% Fib at 1.2524 opens the door for a challenge of the 50% expansion at 1.2448.

The available trading range is too narrow to justify entering a trade on the long or short side from a risk/reward perspective. With that in mind, we will remain flat for now, waiting for price action to offer a more compelling opportunity down the road.

Add these technical levels directly to your charts with our Support/Resistance Wizard app!

USD/CAD Technical Analysis: Digesting Above 1.25 Figure

— Written by Ilya Spivak, Currency Strategist for

Taggar: ,

Kategori: Analys från DailyFX

Om skribenten ()

DailyFX från FXCM ger dig dagligen färska tekniska analyser på valuta och råvaror. FXCM är en ledande handelsplattform för trading av finansiella tillgångar med kraftfulla verktyg för alla sorters handel.

Lämna ett svar

E-postadressen publiceras inte. Obligatoriska fält är märkta *