FxWirePro: USD/CAD faces support at 161.8% extension, good to buy at dips

• Major support -1.2760 (161.8% retracement of 1.29107 and 1.3140)
   
• USD/CAD has broken major psychological support 1.2800 and declined from that level. It is currently trading at 1.27738.
   
• Short term trend is slightly bullish as long as support 1.2678 (90 W EMA) holds.
   
• On the lower side any break below 1.2760 will drag the pair down till 1.2720/1.2678 in the short term.
   
• Loonie minor resistance is around 1.2800 and break above will take the pair till 1.2840/1.2880/1.2956.
   
• Overall bearish invalidation only above 1.3200 level.
   
• RSI- Bullish Divergence

It is good to buy at dips around 1.2760 with SL around 1.2678 for the TP of 1.2850/1.2880