FxWirePro: USD/CAD approaching key support at 1.2614, buy deals are recommended above 1.2615

 

• USD/CAD is approaching support level at 1.2614 (61.8% Retracement Level). The pair is set to reach 1.2650 and 1.2750 in the short term.

• The currency is trading at 1.2612 level, the immediate support can be seen at 1.2614 (61.8% Retracement level). A break below this level will expose the pair to next support level at 1.2561.

• Immediate resistance can be found at 1.2656, a break above this level will exposes it to the 1.2680 handle.

Recommendation: Go long above 1.2600 with Targets at 1.2650, 1.2700 SL 1.2500.

Resistance Levels

R1: 1.2656

R2: 1.2668

R3: 1.2698 (23.6% Retracement Level)

Support Levels

S1: 1.2614 (61.8% Retracement level of 1.2447 to1.2800)                                                               

S2: 1.2561           

S3: 1.2547