- 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)
