Overview:

• The USD/CAD pair is going to call for a downwards market in coming days and the price will probably drop from the level of 0.8426. For that, we expect that the price is going to move between the levels of 0.8426 and 0.8335 in order to form a range of 191 pips this week. The support sets at the level of 0.8335 and resistances stand at the levels of 0.8470 and 0.8426. Therefore, the sellers are going to sell below the level of 0.8426 with the first target of 0.8366 that might resume to 0.8335. It should be also noted that a double bottom is going to set at the price of 0.8355. On the other hand, the strong support is set at the level of 0.8335, so if the trend is able to break the first support at the level of 0.8335 the market will call for a bearish trend at the level of 0.8330 in order to continue to the next support around the area of 0.8273 today.
  

Intraday technical levels:

Date: 4/12/2014

Pair: AUD/USD

• R3: 0.8525
• R2: 0.8495
• R1: 0.8449
• PP: 0.8419
• S1: 0.8373
• S2: 0.8343
• S3: 0.8297