FxWirePro: USD/CAD trades slightly above 200- day EMA, jump till 1.2920 likely

• USD/CAD continuing its bullish trend for second consecutive day and jumped almost 60 pips yesterday. The major weakness in the Loonie was mainly due to dovish comment by BOC on interest rate hike. The pair hits high of 1.28642 at the time of writing and is currently trading around 1.28623.
   
• The Bank of Canada has kept its interest rates unchanged at 1% on Wednesday and commentary by BOC Governor Poloz made it clear that there is no chance of hike till Mar 2018. hike.  
   
• The pair has shown false break out below 1.2660 and jumped sharply from that level. The near term support is around 1.2745 (20- day MA) and any break below will drag the pair to next level till 1.2700/1.2660 (50- day MA). Any close below 1.2660 will drag the pair till 1.2600/1.2500.
   
•  The pair has broken major resistance at 1.2840 (200- day EMA) top formed at Oct 27th low and any any close above confirms minor bullishness, a jump till 1.2920/1.300 likely.

It is good to buy on dips around 1.2835 with SL around 1.2770 for the TP of 1.29250/1.3000.