USD/CAD Trade Idea

• Minor resistance – 1.3000
   
• Major trend reversal level- 1.3060
   
• The pair has opened up at 1.29850 compared to previous close of 1.28110. It has jumped till 1.29896 at the time of writing.
   
• It is currently trading around 1.28913.
   
• The pair is slightly weak as long as resistance 1.3000 holds.
   
• On the downside major support is around 1.2800 and break below targets 1.2740/1.2700/1.2672.
   
• Loonie minor resistance is around 1.3000 and break above targets 1.3060.Any further  bullishness can be seen only above 1.3060.

It is good to sell on rallies around 1.2945-50 with SL around 1.3000 for the TP of 1.2815/1.2740

R1-1.3000

 R2-1.3060

R3-1.3140

Support

S1-12800

S2-1.2740

S3-1.2700