FX.co ★ Technical analysis of USD/CAD for October 6, 2015

General overview for 06/10/2015 08:20CET

Another internal bullish divergence occurred in the hourly time frame. Now, the whole structure looks more bullish. As long as the low of the wave (i) green at the level of 1.3010 is not violated there is still a possibility for another upward wave progression.

Support/Resistance:

1.3455 - Swing High

1.3310 - WR1

1.3229 - Weekly Pivot

1.3127 - Intraday Resistnace

1.3063 - Intraday Support

1.3010 - Technical Support

1.3000 - WS1

Trading recommendations:

Day traders should consider opening buy orders from current market levels with SL below the level of 1.3000 and TP at the level of 1.3229.