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FxWirePro: USD/CAD recovers from the low of 1.3128, good to buy on dips

  • Major resistance- 1.3190 (Sep 13th high).
     
  • Major support – 1.3130 (hourly Kijun-Sen).
     
  • Loonie has recovered after declining till 1.3128 at the time of writing. It is currently trading around 1.31694.
     
  • Short term trend is lightly bullish as long as support 1.3130 holds. Any break below 1.3130 will drag the pair down till 1.3100/1.3070/1.3040 (100- HMA).
     
  • On the higher side, any break above 1.3190 will take the pair to next level till 1.3240/1.3300.

It is good to buy on dips around 1.3160 with SL around 1.3100 for the TP of 1.3240/1.3300.

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