USD/CAD Daily Analysis
Due to the Brexit referendum this week (June 23), non-Euro and Pound related assets are probably safer to trade like the USD/CAD we have in this graph.
Should the price break the 1.2900 support level, the expected price levels it may reach are 1.2810 and 1.2750 (as displayed with the red lines).
Since the RSI indicator is pointing towards the down side, the price may push from its current level to the below noted support levels: S1 1.281, S2 1.275, S3 1.272.
Should the price reach resistance levels of: R1 1.29, R2 1.2945 and R3 1.2975, the market may look to sell and take some intraday profit.
The daily pivot is 1.2900. If the price breaks above the daily pivot, we can expect the price to rise to R2 1.2945 and R3 1.2975, which are noted with the green lines on the chart.
CMT Trading in co-operation with FLEXI Trade.