FxWirePro: USD/CAD retreats after making a high of 1.4169, good to buy at dips
Loonie has made a high of 1.4169 and started to decline from that level. It is currently trading around 1.4110 The pair has declined till 1.4050 and recovered from that level. Short term trend is still bullish as long as…
Loonie has made a high of 1.4169 and started to decline from that level. It is currently trading around 1.4110
The pair has declined till 1.4050 and recovered from that level. Short term trend is still bullish as long as support 1.3990 holds.
The major resistance is around 1.4169 and any break above 1.4250/1.4300 is possible.
On the lower side major weakness can be seen only 1.3800 and any break below 1.3800 targets 1.3690/1.3550. The minor support is around 1.4040 and break below will drag the pair down till 1.3990/1.3927/1.3880.
It is good to buy at dips around 1.4050 with SL around 1.3990 for the TP of 1.425/1.4300.
