- USD/CAD has recovered from the low of 1.22010 and is currently trading around 1.23090. Overall trend is bearish as long as resistance 1.2420 holds.
- The pair’s minor resistance is around 1.2350 and break above would extend gain till 1.2420/1.2480 in short term.
- On the downside support is around 1.2275 and break below will drag the pair further down till 1.2200/1.2165.
Indicator (4 hour)
CCI (14) – Buy
CCI (50) -Buy
Ichimoku- Buy
It is good sell on rallies around 1.2350 with SL around 1.2420 for the TP of 1.2205/1.2165.
The material has been provided by InstaForex Company – www.instaforex.com