>USD/CAD slipped backwards to test support level at 1.3223 in the early European session. However, after failing to break support at 1.3223 levels the pair has rebounded strongly to trade around 1.3271 levels. The pair remains in bullish territory unless until it trades above 1.3200 psychological levels, Therefore its good buy this pair on dips.
>The currency pair is trading at 1.3256 levels, it is expected to reach 1.3300 levels and 1.3340 levels in the short term.
>The immediate support can be seen at 1.3223, break below this level will expose the pair to next support level at 1.3184.
>Major resistance can be seen at 1.3276 (23.6% Retracement level), break above this level will expose it towards 1.3310 (Sep 11th high).
Recommendation: Go long above 1.3230 with targets at 1.3290, 1.3340 SL 1.3080.
Resistance Levels
R1: 1.3266 (Sep 21st high)
R2: 1.3276 (23.6% Retracement level)
R3: 1.3310 (Sep 11th high)
Support Levels
S1: 1.3223 (38.2% Retracement level)
S2: 1.3184 (50% Retracement level)
S3: 1.3143 (61.8% Retracement level)
