FxWirePro: USD/CAD breaks resistance 1.2316, buy deals are recommended above 1.2316

• 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)