FX.co ★ Technical analysis of USD/CAD for October 30, 2015

General overview for 30/10/2015 07:20 CET

The intraday resistance at the level of 1.3223 has hold further market rally and it looks like the lower levels of a range will be tested soon. There is still a possibility of another higher high in the wave 5 purple, but the recent developments in lower time frames do not support this view. The current labeling will be invalidated if the level of 1.3276 is violated.

Support/Resistance:

1.3316 - WR1

1.3276 - Local High

1.3223 - Intraday Resistance

1.3109 - Weekly Pivot

1.3089 - Intraday Support

Trading recommendations:

All buy orders should now be closed and day traders should refrain from trading until the next trading setup occurs.