• Major resistance – 1.3590 (Nov 14th 2016 high)
   
• Loonie declined sharply after making a temporary top around 1.35982. It is currently trading around 1.34340.
   
• The downside is capped by 38.2% fibo and any further weakness can be seen only below that level. Any break below 1.34000 will drag the pair down till 1.3350 (55- day EMA)/1.32780 (61.8% retracement of 1.30800 and 1.35982).Short term weakness only below 1.3300 level.
   
• On the higher side, major resistance is around 1.3590 and any indicative break above 1.3590 will take the pair to next level till 1.3650/1.3705/1.3755.The minor resistance is around 1.3450 and any break above targets 1.3500/1.3560.
  
  It is good to sell on rallies around 1.3395-1.3400 with SL around 1.3450 for the TP of 1.3350/1.32780