Technical analysis of USD/CAD for March 25, 2014





USDCAD broke above the prior 1.1224 high and reached as high as 1.1279, indicating that the uptrend from 1.0182 has resumed. Further rise could be expected, and the next target would be in the 1.1500 area. Key support is at the upward trend line in the daily chart, only a clear break below the trend line support could signal the completion of the uptrend.
On an intraday basis, the pair has support at 1.1180 and 1.1149. Whereas 1.1149 is the major support; if it breaks, we will see the 1.1083 level.
S1 1.1180 R1 1.1205
S2 1.1149 R2 1.1246
S3 1.1083 R3 1.1279


More analysis - at instaforex.com