USD/CAD analysis for August 23, 2018

analytics5b7e895fb47c5.png

Recently, the USD/CAD pair has been trading upwards. The price tested the level of 1.3047. According to the M30 time – frame, I found broken support trendlines in the background, which is a sign that buyers are in control. I also found rejection from a strong support pivot cluster around the price of 1.2985. My advice is to watch for buying opportunities. The upward targets are set at the price of 1.3067 and at the price of 1.3090.

Resistance levels:

R1: 1.3033

R2: 1.3067

R3: 1.3090

Support levels:

S1: 1.2075

S2: 1.2950

S3: 1.2917

Trading recommendations for today: watch for potential buying opportunities.

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