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USD/CAD breaks trend line support at 1.2295, good to sell on rallies

Wednesday, June 24, 2015 11:46 AM UTC

RES 4: 1.23950 (61.8% retracement of 1.25617 and 1.2126)
RES 2: 1.2381 (Cloud top)
RES 2: 1.2359 (Jun 15^th high)
RES 1: 1.2329 (Kijun-Sen)

PRICE: 1.23053 @ 11:37 GMT

SUP 1: 1.2307 (7 day 4 H EMA)
SUP 2: 1.2280 (200 day 4HMA)
SUP 3: 1.2254 (Kijun -Sen)
SUP 3:1..2200

USD/CAD has recovered till 1.23815 after making a low of 1.2126. Overall trend is bearish as long as resistance 1.2040 holds.

On the downside any break below 1.2280 will drag the pair further down till 1.2250/1.2200.

It is good to sell on rallies around 1.2340 for the target 1.2200 with stop around 1.2400.

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USD/CAD breaks trend line support at 1.2295, good to sell on rallies

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