USD/CAD is trading within a wide range, 1.2800 – 1.3200
areas. The pair found resistance at 1.3250 and corrected down to 50% Fibs
(1.3035) that so far has been rejected with the candle close above this level.
At the same time, price is very close to 200-Moving Average that
should, once again, act as support. Current price could be a good entry point
to go long in order to profit from the potential corrective wave up.
Consider buying USD/CAD while price is near 1.3035, targeting
nearest resistance area at 1.3145. The stop loss should be below the 200 MA,
just below the 1.3000 psychological support.
Support: 1.3055, 1.3000
Resistance: 1.3145, 1.3250
The material has been provided by InstaForex Company – www.instaforex.com
The post Technical analysis of USD/CAD for September 22, 2016 appeared first on forex-analytics.press.