FxWirePro: USD/CAD trade Idea

• Major resistance- 1.32500
   
• Major support – 1.3070 (200- day MA).
   
• Loonie broken minor support 1.3150 today morning and declined till 1.31114 at the time of writing. It is currently trading around 1.31293.
   
• Canadian dollar trading higher against all major pairs on account of higher crude oil prices.
   
• On the lower side, major support is around 1.3070, any break below will drag the pair down till 1.3000.
   
• The immediate resistance is around 1.3180 and any break above will take the pair till 1.32260/1.3250.
   
• Overall bearish invalidation only above 1.3590.
  
  It is good to sell on rallies  around 1.3160-65 with SL around 1.3226 for the TP of 1.3080/1.3000

Resistance                                                                                 

R1-1.3180

R2-1.32260

R3- 1.3260

Support               

S1-1.3150

S2-1.3070

S3- 1.3000