Grand Capital - Analytics

Grand Capital

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USDCAD Technical analysis 12.01.15

USDCAD

The pair is testing the strong support level of 1.4260 again on the wake of the drop in oil prices, which is traded around levels which were last seen in 2003.

The price is on the upper Bollinger band, higher than SMA5 and SMA14. RSI resides higher than 50% level and is moving horizontally. Stoch are in the overbought zone.

Trading recommendations: If the pair can retain its positions higher than 1.4240 there is a possibility that it will rise up to 1.4300 after breaching 1.4260 level and then will aim for 1.4400-15 levels.



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