USDCAD Technical Analysis (19-23 January,2015) | January 17, 2015

USDCAD has rejected from near term support area after forming pin bar on daily chart. It is continuing its upward movement. It also touch psychological level 1.2000 but unable to stay above this level. If this pair can break successfully this level, then we can see more bullish rally on this pair.


In weekly chart, we can see some bullish candles. So it indicates its bullish power. It is continuing its bullish rally without significance correction. So we need to catch this pair from every little retracement.


In daily chart, we can see rejection pin bar candle from 1.1800 support level. So We can use this level as good buy zone. Our recommendation for this pair is to stay on upside for long term.



Weekly Pivot, Support and Resistance


Resistance Two (R2): 1.2183

Resistance One (R1): 1.2076

Pivot Point: 1.1939

Support One (S1): 1.1832

Support Two (S2): 1.1695