FxWirePro: USD/CAD Trade Idea

• Major Intraday Support – 1.3390
   
• Loonie has once again recovered sharply after declining slightly below 1.4000 level. It is currently trading around 1.34525.
   
• The pair has also broken major trend line resistance around at 1.3445 (trend line joining 1.35638 and 1.34996).
   
• On the higher side, major resistance is around 1.3540 and any violation above targets 1.3600/1.3660 level.
   
• Short term weakness can be seen below 1.3375 and any indicative break below targets 1.3320/1.3265.


• Overall bullishness only above 1.3540.
  
  It is good to buy on dips around 1.3440 with SL around 1.34000 for the  TP of 1.3500/1.3530

Resistance                                                    
R1-1.3540

R2-1.3600  

R3- 1.3718

Support               

S1-1.3400

S2-1.3370

S3- 1.3320