USD/CAD is Bullish - Sustaining on a Rising Trend Line

SUMMARY:-

The primary trend of USD/CAD is bullish, the pair is sustaining on a rising trendline & cosolidating with a negative bias from past few days,it has given breakout from the rising trend lineyesterday & sustaining below the breakout level, 1.1150 is a important support level and breaching of it can show downside movement for today also. MACD line is sustaining below the zero line, which is also indicating the bearish sentiment in the market. RSI is also supporting the same. One can initiate the short position in the pair below the level of 1.1150 as we can expect it to come down to the levels of 1.1100

 

Today's Chart: USD/CAD (HOURLY )

Pivot Points

	S3	S2	S1	PIVOT	R1	R2	R3
EUR/USD	1.2607	1.2645	1.2689	1.2727	1.2771	1.2809	1.2853
GBP/USD	1.5988	1.6037	1.6084	1.6133	1.6180	1.6229	1.6276
USD/JPY	107.32	107.50	107.83	108.01	108.34	108.52	108.85
USD/CHF	0.9369	0.9406	0.9439	0.9476	0.9509	0.9546	0.9579
AUD/USD	0.8713	0.8752	0.8804	0.8843	0.8895	0.8934	0.8986
EUR/GBP	0.7841	0.7855	0.7874	0.7888	0.7907	0.7921	0.7940
USD/CAD	1.1039	1.1100	1.1132	1.1193	1.1225	1.1286	1.1318
NZD/USD	0.7801	0.7841	0.7880	0.7920	0.7959	0.7999	0.8038

STRATERGY :-

For Today, USD/CAD is looking weak on chart. We can expect downside movement for few upcoming session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.

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