USDCAD Weekly Technical Analysis (4-8 May, 2015) | May 2, 2015

Usdcad has pulled back from near term support area at 1.1950. Rejection candle had been formed on that level and then it started bullish rally. This pair is looking for retest its broken level at 1.2370 area. On weekly chart, rejection pin bar has been formed which indicates buy signal on this pair. Now we can look for buy and target will be 1.2370 area. For buy entry we need to take entry from 1.200 area. For taking buy, we need to get confirmation from bullish candle.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.2361

Resistance One (R1): 1.2258

Pivot Point: 1.2101

Support One (S1): 1.1998

Support Two (S2): 1.1841