USD/CAD: Daily Technical Analysis For March 31, 2015

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Technical Indicator:

Intra-day bias remains bullish. List of indicators applied on the 1 hour time-frame used for analysis includes:

Moving Averages 21 and 55 = Buy

Parabolic S.A.R = Buy

A.D.X= Buy

R.S.I = Buy

MACD = Buy

SSRC(customized stochastic) = Buy

Daily Central Pivot Point Bias = Bullish

Candlestick formed from previous day = Bullish

 

Technical Analysis:

The pair is overbought in the market and i suggest buying the dips. Wait for a decent retracement of price to 1.2615/1.2600 demand zones before buying back to 1.2704. A decisive break of 1.2704 resistance would resume the bullish trend and more rise to 1.2756 weekly resistance 2 is expected.

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