USDCAD Weekly Technical Analysis (13-17 April, 2015) | April 11, 2015

Usdcad has pulled back again from its strong support level. This pair had tested this level for 6-7 times. Now this pair should go up again. We saw bullish pin bar on daily chart from this level which indicates its bullish power. Now this pair is looking for 1.2800 level again. This pair is ranging with 400-450 pips from the beginning of 2015. So we can see a breakout of this ranging zone. After breakout we can see its trendy movement. Within this range we can buy from support and sell from upper level of this ranging zone.


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Weekly Pivot, Support and Resistance

Resistance Two (R2): 1.2817

Resistance One (R1): 1.2689

Pivot Point: 1.2538

Support One (S1): 1.241

Support Two (S2): 1.2259