FxWirePro: USD/CAD key support at 1.3090, buy deals are recommended above 1.3095

The USD/CAD pair surged higher strongly towards 1.3140 levels after Canadian Core CPI printed negative figures. Currently pair is testing resistance level at 1.3128. The pair is set to consolidate above 1.3090 and reach further towards 1.3180 levels in the short term, as the Canadian dollar is broadly weaker against US dollar, therefore it is good to buy this pair above 1.3090 levels.

• The immediate support can be seen at 1.1.3090, break below this level will expose the pair to next support level at 1.3054.
   
• Major resistance can be seen at 1.3175, break above this level will expose it towards 1.3250 levels.

Recommendation: Go long above 1.3095 with targets at 1.3150, 1.3180 SL 1.2950.

Resistance Levels

R1: 1.3130 (38.2% Retracement level)
R2: 1.3175 (23.6% Retracement level)
R3: 1.3200 (Psychological levels)

Support Levels

S1: 1.1.3090 (50% Retracement level)
S2: 1.3054 (61.8% Retracement level)
S3: 1.2986 (Oct 21st low)