- USD/CAD has broken short term trend line resistance 1.2050 (trend line joining 1.22037 and 1.21175) and jumped till 1.216. Intraday bias is positive and a jump till 1.2200 is possible.
- Intraday trend reversal only below 1.2000 level.
- The pair’s minor resistance is around 1.2130 and break above would extend gains till 1.2160/1.2200.
Indicator (1 hour chart)
CCI (50) – Buy
CCI (14) – Buy
Ichimoku- Buy
It is good to buy at dips around 1.2060 with stop around 1.2000 for the target of 1.2160/1.2200.
The material has been provided by InstaForex Company – www.instaforex.com