FxWirePro: USD/CAD key support at 1.3875, bullish in the short term

The USD/ CAD has strongly bounced to trade around 1.3953 levels, after breaking 1.3925 resistance level.

• The pair initially declined towards 1.3875 levels. However, after finding support at 1.3870 the pair rebounded strongly to reverse course.
   
• The pair remains under strong bulls control, unless until it trades above 1.3875 resistance levels. The pair has close below 1.3800 in order find any bearish momentum unless until it's good to go long on this pair.
   
• To the upside, the strong resistance can be seen at 1.3995, a break above this level would take the pair all the way towards 1.4040 levels.
   
• To the downside immediate support can be seen 1.3926, a break below this level will take the pair to next level at 1.3868.
  
  Recommendation: Go long above 1.3920, targets 1.4000, 1. 1.4040, SL 1.3860
  
  Resistance Levels
  
  R1: 1.3959 (50% Retracement level)
  
  R2: 1.3995 (38.2% Retracement level)
  
  R3: 1.4040 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.3926 (61.8% Retracement level)
  
  S2: 1.3868 (Jan 4th lows)
  
  S3: 1.3813 (December 31st lows)