Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

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 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.

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.