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- Major support – 1.3010 (trend line joining 1.26778 and 1.28610).
- Major resistance – 1.3150 (Aug 2nd high).
- The pair has made a temporary top around 1.3150 and declined from that level. It is currently trading around 1.30677.
- the Canadian dollar gained slightly against major pair’s as WTI crude oil prices recovered from the low of $39.23 made yesterday.
- On the downside, further weakness can be seen below 1.3010 level. Any violation below 1.3010 will drag the pair down till 1.2960/1.2860 in the short term.
- The major resistance is around 1.3150 and any indicative break above targets 1.3185/1.3250.
It is good to buy on dips around 1.3050 with SL around 1.3000 for the TP of 1.3100/1.3148
