USD/CAD Technical Analysis: Rally Rejected at Resistance

| 26 juni, 2015 | 0 kommentarer

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

Talking Points:

  • USD/CAD Technical Strategy: Flat
  • Support: 1.2279, 1.2221, 1.2127
  • Resistance: 1.2384, 1.2448, 1.2524

The US Dollar recoiled from resistance above the 1.12 figure against its Canadian counterpart, snapping a four-day winning streak. Near-term resistance is in the 1.2372-84 area (38.2% Fibonacci expansion, horizontal pivot), with a break above that on a daily closing basis exposing the 50% level at 1.2448. Alternatively, a move below the 23.6% Fib at 1.2279 clears the way for a test of the 14.6% expansion at 1.2221.

Prices are wedged too closely between near-term support and resistance levels to justify taking a trade on a long or short side from a risk/reward perspective. With that in mind, we will continue to stand aside until a more attractive opportunity presents itself.

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

USD/CAD Technical Analysis: Rally Rejected at Resistance

— 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 *