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USD/CAD faces strong resistance around 1.2360, break above targets 1.2440 level

Tuesday, June 23, 2015 12:17 PM UTC

RES 4: 1.2440
RES 3: 1.23950 (61.8% retracement of 1.25617 and 1.2126)
RES 2: 1.2381 (Cloud top)
RES 1: 1.2359 (Jun 15^th high)

PRICE: 1.23385 @ 12:09 GMT

SUP 1: 1.2314 (7 day 4 H EMA)
SUP 2: 1.2274 (200 day 4HMA)
SUP 3: 1.2239 (Kijun -Sen)
SUP 4:1..2200

USD/CAD has recovered till 1.23459 after making a low of 1.2126. Overall trend is bullish as long as support 1.2315 holds.

On the downside any break below 1.2315 will drag the pair further down till 1.2270/1.2.

It is good to buy at dips around 1.2320-25 for the target 1.2420 with stop around 1.2270.

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USD/CAD faces strong resistance around 1.2360, break above targets 1.2440 level

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