USD/CAD Intraday Technical Analysis and Trading Recommendations for February 26, 2013

The USD/CAD is holding firmly above its broken resistance at the 1.0100 level, further upside movement is expected.

This will expose the 1.0260 level where a break through will allow rally towards 1.0300 level to take place. Further out, 1.0350 level stands as the next possible upside target. 

On the other side, support is located around 1.0160 level where a breakdown will target the 1.0100 levels. 

The best option now is to stay out of the market until new significant price action takes place. As yesterday the daily candlestick was insignificant.

The material has been provided by InstaForex Company – www.instaforex.com

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