FxWirePro: USD/CAD trade idea

• Major resistance – 1.3540 (trend line joining 1.35885 and 1.35642)
   
• Major support – 1.3368 (23.6% retracement of 1.26544 and 1.35885)
   
• Loonie  has once again declined after jumping till 1.35373 at the time of writing. The pair trades slightly below 10- day MA (1.3480). It is currently trading around 1.34680.
   
• On the lower side, immediate support is around 1.3450 and any break below will drag the pair down till 1.3420/1.3368. Any close below 1.3400 confirms minor trend reversal .
   
•  The trend line joining 1.35885 and 1.35642 (1.3540) will be acting as near term resistance and any violation above will take the pair to temporary top formed at 1.3590/1.3660/1.3718 (161.8% retracement of 1.35885 and 1.3378).
  
  It is good to buy on dips around 1.3435-1.3440 with SL around 1.3368 for the TP of 1.3590/1.3718

Resistance                                                                  R1-1.3540
 

R2-1.3600
  

R3- 1.3718

Support               

S1-1.3450

S2-1.3400

S3- 1.3368