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Canadian dollar continues to add strength against US dollar, good to sell on rallies

Monday, February 8, 2016 9:19 AM UTC

Pair is well supported below 1.39 marks and currently trading at 1.3856 levels.
A break of 1.4001marks is required to confirm to bullish trend.
Alternatively, current downfall will drag the parity below 1.3639 levels and 1.3523 levels thereafter.
Initial resistance levels are seen at 1.3987, 1.4057 and 1.4197 levels.
On the other side, support levels are seen at 1.3777, 1.3639 and 1.3567 levels.

We prefer to take short position in USD/CAD around 1.3870, stop loss 1.4001 and target 1.3567 levels.

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Canadian dollar continues to add strength against US dollar, good to sell on rallies

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