Recently, the USD/CAD has been trading sideways at the price of 1.3067. According to the H1 time – frame, I found a breakout of bullish flag pattern in the background, which is a sign that buyers are in control. I also found a hidden bullish divergence on the LBR oscillator, which is another sign of strength. My advice is to watch for potential buying opportunities. The upward targets are set at the price of 1.3092, 1.3120, and at the price of 1.3165.
Resistance levels:
R1: 1.3100
R2: 1.3130
R3: 1.3170
Support levels:
S1: 1.3033
S2: 1.2995
S3: 1.2965
Trading recommendations for today: watch for potential buying opportunities.
The material has been provided by InstaForex Company - www.instaforex.com