FX.co ★ Technical analysis of USD/CAD for May 25, 2016

General overview for 25/05/2016:

Another marginal higher high had been made, but it looks like the wave iv is still unfolding. The corrective cycle in this wave might get more complex and time-consuming, but we still expect one more wave up to unfold after the correction is completed. The projected target of 1.3218 is still valid as well.

Support/Resistance:

1.3276 - WR1

1.3218 - Projected target for wave v

1.3186 - Intraday Resistance

1.3084 - Intraday Support

1.3056 - Weekly Pivot

1.3014 - Technical Support

1.2951 - WS1

1.2771 - Technical Support

Trading recommendations:

All buy orders from last week should be still kept open as the target hasn't been hit yet. The projected TP is still at the level of 1.3218.