FXWIREPRO: USD/CAD Regains Upward Movement After Oil Rebound Fades
21 March 2016, 17:23
0
227
FXWIREPRO: USD/CAD Regains Upward Movement After Oil Rebound Fades
- The USD/CAD surged higher on Monday, as oil prices declined towards 41.16 $ per barrel.
- Oil prices rebound waned in US session reversing earlier gains as uncertainty lingered over the outcome of a meeting of world’s major oil exporters.
- To the upside, the strong resistance can be seen at 1.3091, a break above will take the pair towards next resistance level at 1.3128.
- To the downside immediate support can be seen at 1.3062 levels, a break below will open the door towards next level at 1.3036. Resistance Levels R1: 1.3091 (38.2% Retracement level) R2: 1.3128 (38.2% Retracement level) R3: 1.3164 (March 11th lows) Support Levels S1: 1.3062 (50% Retracement level) S2: 1.3036 (61.8% Retracement level) S3: 1.3000 (Psychological levels)
The material has been provided by InstaForex Company - www.instaforex.com
