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FxWirePro:USD/CAD faces strong resistance at 1.2860, good to sell on rallies

Major resistance – 1.2860 (90 4H EMA) Loonie has broken major support at 1.2800 (21 4H MA) and declined till 1.27818. It is currently trading around 1.27823. Any break below 1.2800 will drag the pair down till 1.2740/1.2…

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FxWirePro:USD/CAD faces strong resistance at 1.2860, good to sell on rallies
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  • Major resistance – 1.2860 (90 4H EMA)
     
  • Loonie has broken major support at 1.2800 (21 4H MA) and declined till 1.27818. It is currently trading around 1.27823.
     
  • Any break below 1.2800 will drag the pair down till 1.2740/1.2654 (Jun 8th low).
     
  • On the higher side resistance is around 1.2860 any break above targets 1.2933/1.2953/1.3000.
     
  • Overall bearish invalidation only above 1.30850.

It is good to sell on rallies around 1.2785-1.2790 with SL around 1.2860 for the TP of 1.2660

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