SUMMARY :
USD/CAD currency pair trend is majorly on the bullish side, prices are sustaining on the
higher levels & looking further bullish for the few upcoming
sessions. The pair is taking resistance from the level of 1.2465,
consolidating & gaining strength to break it upside. Today if the
pair breaks 1.2465 & managed to sustain above it, then we can
expect it to continue its ongoing trend & test the level of
1.2490/ 1.2530 in today's session.
Prices are taking support of 30 SMA & 200 SMA. RSI
is also sustaining in buying territory supporting upside movement in
the pair. MACD line has recently break the zero line, indicating the
up trend in the forex market.
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| Technical Chart |
STRATEGY :-
USD/CAD is looking further bullish on charts. One can go for buy on
dips strategy for this pair for intra day to mid term positions.
