FxWirePro: USD/CAD testing resistance at 1.2776, buy deals are recommended above 1.2740

 

• USD/CAD broke resistance level at 1.2735 (38.2% Retracement level), and is approaching to  test resistance level at 1.2775. The pair is set to reach 1.2820 and 1.2850 handle in the short term.

• The currency is trading at 1.2767 levels, the immediate support can be seen at 1.2735 (38.2% Retracement level). A break below this level will expose the pair to next support level at 1.2702.

• Immediate resistance can be found 1.2776 (23.6% Retracement level), a break above this level will expose it to the 1.2796 handle.

Recommendation: Go long above 1.2740 with Targets at 1.2820, 1.2850 SL 1.2680.

Resistance Levels

R1: 1.2776 (23.6% Retracement level

R2: 1.2796

R3: 1.2841

Support Levels

S1: 1.2735 (38.2% Retracement level of 1.2563 to 1.2841)                                                              

S2: 1.2702

S3: 1.2670