Ichimoku indicator analysis of USD/CAD for June 27, 2017

Since June 14th, the USD/CAD has been mainly moving sideways respecting support levels but with no bounce strength despite oil weakness. 1.32 is critical support.

Blue line - short-term support

The USD/CAD pair is trading below the Kumo and this might put another test to the critical support of 1.32. Resistance is at 1.3255 and if broken, we could see a bounce towards 1.3350.

On a daily basis, the USD/CAD pair is consolidating around long-term support level of 1.31-1.32. As long as it holds it, we could see a bounce towards 1.34-1.35. Breaking below it will open the way for 1.25-1.27.The material has been provided by InstaForex Company - www.instaforex.com