- The USD/CAD pair is likely to find support at the levels of 1.2244 and 1.2386 on June 17, 2015. Also it should be noted that the level of 1.2286 represents the key level for the USD/CAD pair today. Moreover, the market is still calling for an uptrend. Resistance became strong support at the level of 1.2290. Consequently, the ascending movement will probably be higher than 1.2290 with targets at 1.2339 and 1.2360 in the long term. The level of 1.2360 is the highest price for that the pair is going to form the first double top at 1.2360.
- On the contrary, the resistance is seen at the level of 1.2360/1.2380. In a different situation, it will be very profitable to sell below this level for retestingit in the short period. Therefore, sell deals are recommended below 1.2380 with a targets 1.2280 in coming hours.
The material has been provided by InstaForex Company – www.instaforex.com