FX.co ★ Technical analysis of USD/CAD for June 02, 2015

The pair managed to close above the supply zone and above the 20Wsma. The pair changed the texture from selling to buying. The previous resistances acting as support now. The weekly support is found at 1.2430 and 1.2395. Until the price closes above 1.2390, use dips to buy. Bears can try to hit 1.2300 in case the price breaks below 1.2390. The nearest parallel resistance is seen at 1.2570. Fresh buying is advised above 1.2570. In case buying triggers, bulls will aim at 1.2650 an 1.2670 immediately. The monthly support is found at 1.2250.