FxWirePro: USD/CAD key support at 1.3290, buy deals are recommended around 1.3340
USD/CAD slipped backwards towards 1.3290 levels after bullish ECB meeting. However, after finding support at 1.3290 the pair has rebounded back reversing the early losses. further decline is expected to be limited around…
USD/CAD slipped backwards towards 1.3290 levels after bullish ECB meeting. However, after finding support at 1.3290 the pair has rebounded back reversing the early losses. further decline is expected to be limited around 1.3300 levels as the strong support formed around 1.3290 levels is set hold any decline from the bears, therefore, its good to buy this pair on dips.
Currently the pair trading around 1.3354 levels, and it is set to reach 1.3400 and 1.3450 levels in the short term.
The immediate support can be seen at 1.3315, break below this level will expose the pair to next support level at 1.3280.
Major resistance can be seen at 1.3387, break above this level will expose it towards 1.3430 levels. Recommendation: Go long above 1.3340 with targets at 1.3390, 1.3450 SL 1.3240.
