FX.co ★ Technical Analysis of USD/CAD for September 05 , 2014

The pair drifted and held the support at 50Dsma in the previous day. Twice the 5Dsma gave enough support to push the price to the North. The pair has strong support at 1.0803 for the short term and 1.0856 for the near-term basis. The pair is facing strong resistance at 1.09. We strongly recommend to buy only above this with the targets at the 1.0910, 1.0926, and 1.0940 levels, even 1.0960 is also possible. On the down side, the pair has strong support at 1.08820 for an intraday session. Below this, the pair will face selling pressure up to the 1.0873, 1.0869, and 1.0856 levels. The strong buy will appear above 1.1 for the 1.1068 and 1.111 levels in the short term.