FX.co ★ Weekly forecast and an intraday analysis of USD/CAD for September 22-26, 2014

The pair managed to close above 200WEma the previous week. The pair tested its fate for many times during the past few years. Whenever the pair tried to close above that, it was rejected with sell-offs from there. This time, the pair successfully closed above that, indicating further bullish mode in the future. Today the pair opened below the previous week close and is trading below 200WEma, indicating some weakness. The pair is trading at 0.9387 levels in the Asia's session. On the down side, the pair has support at 0.9332 and 0.93-0.9290 levels. A daily close below 0.9290 only, the weekly trend turns to negative. In the daily chart, the Stochastics indicates a buy mode. The safe buying will be triggered only above 0.9413 levels.

Support 0.9332, 0.9290, 0.9250

Resistance 0.9413, 0.9456, 0.9535

For an intraday view, the pair is trading below 35DEMA but holding at the 12ema support level of 0.9379, below this, it has support at 0.9368 and 0.9360. We recommend safe selling below 0.9360.