Major resistance- 1.32335 (61.8% fib)
USDCAD has lost more than 150 pips from the high of 1.32264ostive outlook on NAFTA talks. Canadian foreign minister Freeland said that discussions between US and Canada negotiating teams over the weekend were “constructive and productive.” The pair hits low of 1.30415 and is currently trading around 1.30460.
On the higher side, any break above 1.3087 (50- day MA) will take the pair to next level till 1.3135/1.3200. Short term trend reversal only above 1.32300.
The near term major support is around 1.3030(100- day MA) and any violation below targets and any close below targets 1.3000/1.2965/1.2900.
It is good to sell on rallies around 1.3078-80 with SL around 1.31300 for the TP of 1.3000/1.2965.
