FxWirePro: USD/CAD approaching support at 1.2673, buy deals are recommended above 1.2670

• USD/CAD is approaching to test support level at 1.2673, the support level at 1.2673 is set to hold and push the pair further to upside towards 1.2750 and 1.2800 later.

• The currency is trading at 1.2693 level, the immediate support can be seen at S1: 1.2673. A break below this level will expose the pair to next support level at 1.2658 (61.8% Retracement level).

• Major resistance can be found at 1.2751 (23.8% Retracement level), a break above this level will expose it to the 1.2880 handle

 

Recommendation: Go long above 1.2670 with Targets at 1.2750, 1.2800 SL 1.2610.

Resistance Levels

R1: 1.2716 (38.2% Retracement level)

R2: 1.2751 (23.8% Retracement level)

R3: 1.2778 (July 7th high)

Support Levels

S1: 1.2673                                           

S2: 1.2658 (61.8% Retracement level)                    

S3: 1.2622