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EUR/CAD breaks major resistance 1.4170, jump till 1.4295 likely

  • Major resistance – 1.4170
     
  • Major support -1.4140 (trend line joining 1.38802 and 1.40705)

     
  • EUR/CAD has broken major resistance of 1.4170 yesterday and jumped till 1.42177 at the time of writing. It is currently trading around 1.42144.
     
  •  Short term trend is slightly bullish as long as support 1.4140 holds.
     
  • On the higher side, 76.4% fibo level is acting as near term resistance at 1.42275 (76.4% retracement of  1.43553 and 1.38197) and any violation above will take the pair to next level till 1.42980 (trend line joining 1.3936 and 1.43553).
     
  • The major support is around 1.4140 and any break below will drag the pair down till 1.4070/1.4000.

    It is good to buy on dips around 1.4205-1.4208 with SL around 1.4135 for the Tp of 1.4290/1.4350
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