FxWirePro: USD/CAD rallies to 1-week high, good to buy on dips

• USD/CAD soared to one week  high  after Donald Trump's victory in the U.S. presidential election.

• Trump was elected after defeating Vice President Kamala Harris, marking a comeback four years after he was voted out of the White House.

•The win propelled   dollar, global stock market rally, while investors also evaluated the future impact of Trump's second term on the world economy.

•  Technical highlight upside risks for USD/CAD, with momentum studies, 5, 10 and 11 DMAs tracking north.

•  Immediate resistance is located at 1.3983(23.6%fib), any close above will push the pair towards 1.4004(Higher BB).

• Support is seen at 1.3894 (38.2%fib) and break below could take the pair towards 1.3818(50%fib).

Recommendation: Good to buy  around 1.3920, with stop loss of 1.3850 and target price of 1.3990