- USD/CAD broke Resistance Level at 1.2316 and is bouncing above to reach the next Resistance level at 1.2400.
- The currency is trading at 1.2340 level, the immediate support can be seen at 1.2316. A break below this level will expose the pair to next support level at 1.2240.
- Major resistance can be found at 1.2400 a break above this level will exposes it to the 1.2440 handle.
Recommendation: Go long above 1.2316 with Targets at 1.2360, 1.2400 SL 1.2190.
Resistance Levels
R1: 1.2410 (23.6% Retracement Level )
R2: 1.2468
R3: 1.2533
Support Levels
S1: 1.2316 (38.2% Retracement level 1.1918 to 1.2562)
S2: 1.2240
S3: 1.2164 (61.18 Retracement level)
