FX.co ★ Technical analysis of USD/CAD for December 24, 2015

General overview for 24/12/2015 09:20 CET

As indicated yesterday, slow and quiet trading is unfolding before Christmas as the market is still inside the daily range. The intraday support at the level of 1.3849 is being tested currently. Further development in the corrective wave 4 black is anticipated with a potential target at the level of 1.3677.

Support/Resistance:

1.4100 - WR1

1.4000 - Intraday Resistance

1.3888 - Weekly Pivot

1.3847 - Intraday Support

1.3776 - WS1

Trading recommendations:

Take profit level has been hit and profits were made. Currently, day traders should consider to refrain from trading and wait for better trading setup to occur.