USDCAD Weekly Technical Analysis (20-24 April, 2015) | April 18, 2015

Finally usdcad had broken its critical support area. After a long term ranging, this pair started to fall rapidly after breakout of support area. This has free space to fall now. Before falling we can wait for some retrace to take sell entry again. 1.2350-1.2380 level was good support area for this pair and now this level will act as new resistance level. So we need to wait for retest this broken area to enter sell again on this area.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.2882

Resistance One (R1): 1.2562

Pivot Point: 1.2324

Support One (S1): 1.2004

Support Two (S2): 1.1766