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- Major Resistance- 0.902
- Major support – 0.8850
- The pair has recovered after making a low of 0.8880 yesterday. It is currently trading around 0.8911.
- CAD rebounds against all major pairs on account of rising crude oil prices.WTI Crude oil prices surged till $42.22 as Kuwaiti oil workers' union leaders comments that striking employees will not return to work until all demands met.
- Short term trend is slightly bullish as long as support 0.8850 holds.
- The pair’s major resistance is around 0.9020 and any break above 0.8920 will take the pair to next level 0.906/0.9100/0.9118.
- On the lower side major support is around 0.8750 (Mar 23rd low) and break below targets confirms minor trend reversal a decline till 0.8700/0.8670 is possible. The minor support is around 0.888 (55 day 4H EMA)
It is good to buy at dips around 0.8900 with SL around 0.885 for the TP of 0.9000/0.9020.
