FxWirePro: USD/CAD key support at 1.3010, buy deals are recommended above 1.3030

>USD/CAD has slipped sharply earlier in the European session, after breaking strong support at 1.3115 levels. However, weakness may extend up to 1.3010 levels and a consolidation is set to take place well above the stated this area, as this area has been a strong support zone for the pair off late. Therefore, it's good to entry long order above 1.3010 levels.

>The currency pair is trading at 1.3070 levels, it is expected to reach 1.3150 levels and 1.3200 levels in the short term.

>The immediate support can be seen at 1.3060, break below this level will expose the pair to next support level at 1.3010.

>Major resistance can be seen at 1.3160 (Aug1 7th high), break above this level will expose it towards 1.3200 levels.

Recommendation: Go long above 1.3010 with targets at 1.3150, 1.3200 SL 1.2960.

Resistance Levels

R1: 1.3115(38.2% Retracement level)

R2: 1.3160 (Aug1 7th high)

R3: 1.3205 (Sep 17th high)

Support Levels

S1: 1.3060 (38.2% Retracement level)

S2: 1.3010 (50% Retracement level)

S3: 1.2965 (61.8% Retracement level)