Technical analysis of USD/CAD for January 30, 2014

Trading recommendations:

• According to the previous events, the USD/CAD pair is still moving between 1.1185 and 1.1140.
• Sell below 1.1203 with the first target at 1.1165, then it will be gone towards 1.1125 in order to test this strong support.
• Buy above 1.1120 (if the trend fails to close below it) with target at 1.1155, then at the price of 1.1200.
• Please check out the market volatility before investing, because the sight price may have already been reached and scenarios might have become invalidated.
• Key level is at 1.1120.
• History will probably repeat itself at this level again.

Intraday technical levels:

• Projected high:1,1355
• Breakout (buy stop):1,1300
• Strong resistance (sell limit):1,1270
• Current pivot:1,1144
• Strong support (buy limit):1,1018
• Breakout (sell stop):1,0993
• Projected low:1,0943

The material has been provided by InstaForex Company – www.instaforex.com