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FxWirePro: USD/CAD approaching resistance level at 1.3062, buy deals are recommended above 1.3000

 

  • The currency is trading at 1.3040 levels, the immediate support can be seen at 1.3006. A break below this level will expose the pair to next support level at 1.2980.
  • Major resistance can be found at 1.3096 (23.6% Retracement level), a break above this level will expose it to the 1.30150 handle.
  • Recommendation: Go long above 1.3010 with Targets at 1.3060, 1.3100 SL 1.2890.

Resistance Levels

R1: 1.3062 (38.2% Retracement level)

R2: 1.3096 (23.6% Retracement level)

 R3: 1.3152

Support Levels

S1: 1.3006(61.8% Retracement level of 1.2915 to 1.3152 )                              

S2: 1.2980           

S3: 1.2970

 

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