FxWirePro: USD/CAD faces trend line support at 1.3130, good to buy on dips
Major Resistance- 1.3320 (trend line joining 1.32481 and 1.32809). Major support – 1.3175 (10- day MA). Loonie has taken support near trend line support at 1.3130 and started to jump from that level. The pair jumped till…
Major Resistance- 1.3320 (trend line joining 1.32481 and 1.32809).
Major support – 1.3175 (10- day MA).
Loonie has taken support near trend line support at 1.3130 and started to jump from that level. The pair jumped till 1.2725 on Monday and is currently trading at 1.32380.
Short term trend is bullish as long as support 1.3130 holds. Any violation above 1.3280 will take the pair to next level till 1.3320/1.3400 in the short term.
The minor weakness can be seen below 1.3170 (21- day MA) and any break below targets 1.3130/1.3100.
It is good to buy on dips around 1.3185-1.3190 with SL around 1.3130 for the TP of 1.3280/1.3320.
