USDCAD Technical Analysis (16-20 February,2015) | February 15, 2015

Usdcad is staying above support level. 1.2375-1.2400 area is good support for this pair. This pair is ranging above this support. If it can break this support then we can see some bearish movement on this pair. It has broken upward channel and near to key support. On daily chart, we can see engulfing candle and confirmation bearish candle. So we can expect bearish movement on this pair. On weekly chart, we can see a bearish rejection candle which also indicates down momentum.



Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.2797

Resistance One (R1): 1.2621

Pivot Point: 1.2521

Support One (S1): 1.2345

Support Two (S2): 1.2245