FX.co ★ Intraday trading recommendations on USD/CAD of September 12,2014

The pair came out of the 2-month trading range and closed above that. It represents further bullishness towards 1.1069 and 1.1 in the near term. The pair has support at the upper breakout level, resistance will act as support below this, 1.0930 and 1.09 will act as the weekly support level. For an intraday basis, the prices are closed above the hourly key moving averages. We recommend buying above 1.1058 for hourly targets at the 1.1070, 1.1077 and even 1.11 levels. On the downside, it has support at 1.1029 and 1.1. The selling will be possible below 1.1 towards 1.0950 levels. Panic will trigger below 1.0950 for a downside target at 1.0933 levels.