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Loonie faces major trend line support around 1.3225, break below targets 1.3120

USD/CAD has made a temporary top around 1.3278 and slightly retreated from that level. It is currently trading at 1.3229. The pair is facing minor trend line support around 1.3225 (trend line joining 1.30396 and 1.31685)…

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Loonie faces major trend line support around 1.3225, break below targets 1.3120
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USD/CAD has made a temporary top around 1.3278 and slightly retreated from that level. It is currently trading at 1.3229.

  • The pair is facing minor trend line support around 1.3225 (trend line joining 1.30396 and 1.31685) and break below targets 1.3150/1.3120 level in short term.
     
  • Further bullishness can be seen only above 1.3280 level. Break above would take the pair to next level around 1.3313/1.3350.

It is good to sell only below 1.3225 with SL around 1.3280 for the TP of 1.3150/1.3120.

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