FxWirePro: USD/CAD Trade idea

• USD/CAD hits four month high today after U.S Commerce Secretary Wilbur Ross said his agency will impose new anti-subsidy duties on Canadian softwood lumber imports.
   
• The pair broken the major resistance of 1.35349 high made on Mar 9th 2017 and jumped till 1.35732 at the time of writing. It is expected to reach till 1.35985   (Dec 28th high) and any break above confirms that decline from 1.46889 and 1.2460 will come to an end, a jump till 1.370/1.3828 is possible.
   
• On the lower side, major near term support is around 1.3400 and any break below will drag the pair down till 1.3300 (100- EMA)/1.3220 (Apr 13th 2017 low).
  
  It is good to buy on dips around 1.3550 with SL around 1.3480 for the TP of 1.3600/1.3710

 Resistance
                   

R1-1.3590
                                                            

R2 -1.3705
 

R3- 1.3830
 

Support   
 

S1-1.3480
 

S2-1.3400
 

S3-1.3300