Overview:
- The USD/CAD pair rebounded at the level of 1.3040 and showed signs of strength following the level of 1.3053. Additionally, the resistance has been broken and turned into a minor support at the same key level (1.3040). Equally important, the price has been set above the support since yesterday. Furthermore, the price has still been trapped between 1.3040 and 1.3108. Consequently, the pair has already formed a minor support at 1.3040 on the H1 chart. Therefore, the USD/CAD pair started showing the signs of bullish market, so the market indicates the bullish opportunity at the level of 1.3040 with the first target of 1.3108, and continues towards the level of 1.3155 again. On the other hand, the stop loss should always be taken into account, thus it will be profitable to set your stop loss at the 1.3003 price.
Intraday technical levels:
Date: 4/11/2015
Pair: USD/CAD
- R3: 1.3262
- R2: 1.3212
- R1: 1.3136
- PP: 1.3086
- S1: 1.3010
- S2: 1.2960
- S3: 1.2884
