FxWirePro: Loonie consolidates in narrow range, good to buy at dips
USD/CAD is trading in narrow range 1.3325 and 1.3125 for the past three trading session. Any trend reversal can happen only above or below the channel. On the lower side major support is around 1.3100 and any break below…
USD/CAD is trading in narrow range 1.3325 and 1.3125 for the past three trading session. Any trend reversal can happen only above or below the channel.
On the lower side major support is around 1.3100 and any break below will extend losses till 1.3050/1.2960 in short term.
The pair's trend line resistance is around 1.3295 and any break above that level will take the pair till 1.3325/1.3350.
Further bullishness in Loonie can be seen only above 1.3350 level.
It is good to buy at dips around 1.3130 with SL around 1.3090 for the TP of 1.3285.
