FxWirePro: USD/CAD approaching resistance at 1.2577, buy deals are recommended above 1.2520

 

• USD/CAD broke resistance Level at 1.2518 ( 36.8% Retracement Level ) and is bouncing above to reach the next resistance level  at 1.2575 (23.6% Retracement Level ).

• The currency is trading at 1.2556 level, the immediate support can be seen at 1.2518 (38.2% Retracement level). A break below this level will expose the pair to next support level at 1.2473.

• Major resistance can be found at 1.2575 (23.6% Retracement Level ), a break above this level will exposes it to the 1.2645 handle.

Recommendation: Go long above 1.2520 with Targets at 1.2580, 1.2620 SL 1.2460.

Resistance Levels

R1: 1.2575 (23.6% Retracement Level )

R2: 1.2601

R3: 1.2645

Support Levels

S1: 1.2518 (38.2% Retracement level)                                                    

S2: 1.2473           

S3: 1.2427 (61.18 Retracement level)