Overview:
Today will give its effect in the short term. Also, we should remember that history will probably repeat itself at this level again. Thus, according to the previous events, the USD/CAD pair is going to move between 1.2360 and 1.2424. In particular, the double bottom has set at the price of 1.2241 and the support is represented at the same level in H1 chart. Consequently, the trend may fails to close below the strong support at 1.2241. Thereupon, buy above the level of 1.2260 with the first target at 1.2370, then it will be continued towards 1.2424 in order to test this strong resistance.Intraday technical levels:
Date: 23/06/2015
Pair: USD/CAD
Major resistance: 1.2424 Minor resistance: 1.2370 Pivot point: 1.2293 Minor support: 1.2241 Major support: 1.2165