FxWirePro: Loonie faces strong resistance around 1.3350, good to sell on rallies
Harmonic pattern formed- Bullish BAT pattern Potential Reversal Zone( PRZ)- 1.3355 Loonie has made a high of 1.3352 on Tuesday and declined till 1.2850 from that level. It has almost formed a double top around 1.335 and …
Loonie has made a high of 1.3352 on Tuesday and declined till 1.2850 from that level. It has almost formed a double top around 1.335 and not able to cross above that level.
Any break above 1.3350 will take the pair to new level 1.3880.
On the downside minor support is around 1.3250 and break below targets 1.3170/1.3140/1.3060.
Bullish invalidation only below 1.3050.
It is good to sell on rallies around 1.3290-95 with SL around 1.3350 for the TP of 1.3170.
