- Major resistance – 1.3590 (Nov 14th 2016 high).
- Loonie jumped from the low of 1.3472 made yesterday. It is currently trading around 1.35771.
- The pair has taken support near 21- 4H EMA and recovered sharply from that level. Minor trend reversal can happen only below 21- 4H EMA. Any break below 21- 4H EMA will drag the pair down till 1.3439 (55- 4H EMA)/1.3395 (100- 4H EMA).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.
It is good to buy on dips around 1.3545-3550 with SL around 1.3470 for the TP of 1.3590/1.3645
Resistance R1-1.3590
R2-1.3655
R3- 1.3750
Support
S1-1.3470
S2-1.3430
S3- 1.3395
