Daily USD CAD Technical Analysis 29th November, 2016

Daily USD CAD Technical Analysis 29th November, 2016

USD CAD Technical Analysis 29th November, 2016

Technical Analysis Overview

Prev. Close 1.3409
Open 1.3409
Day’s Range 1.3400 – 1.3436
52 wk Range 1.2458 – 1.4692
1-Year Return +0.28%

Technical Support and Resistance

USD CAD had a rush day yesterday. Yesterday day USD CAD pair spent running without any proper direction. But market closed near 1.3409, which is 1.33% lower than Monday opening. Today In Asia market started low as the oil price is low then previous day. Today OPEC meetings and discussions will be held. There for market is expecting some more volatility.
Today expected USD CAD market range is 1.3400 – 1.3436.

In the daily USD CAD Technical analysis chart shows USD/CAD pair may find the immediate support at 1.3398. If, market breaks the first support then it will go for the following support to test. Following supports are 1.3385 and 1.3371. On the other side the market has immediate resistance 1.3426. If, market breaks the primary resistance level then, market will go for the new resistance level 1.3439 and 1.3453.

Today USD CAD pair traders are waiting for the OPEC meetings and discussions data releases.
Along with technical analysis following economic event is very important to analyze the financial market properly.

Upcoming Important Economic News: (GMT +3)
1. 6:30am CAD BOC Gov Poloz Speaks
2. 7:00pm CAD Current Account
3. 11:10pm USD FOMC Member Powell Speaks