Loonie trades well above trend line resistance, targets 1.2980
USD/CAD has made a high if 1.2939 on Friday and is currently trading at 1.2927. Loonie has broken major short term trend line resistance around 1.2902 (trend line joining 1.3080 and 1.3015) and this confirms short term b…
USD/CAD has made a high if 1.2939 on Friday and is currently trading at 1.2927.
Loonie has broken major short term trend line resistance around 1.2902 (trend line joining 1.3080 and 1.3015) and this confirms short term bullishness , jump till 1.2980/1.3020 in short term.
On the downside minor support is around 1.2860 and any weakness can be seen only below that level. Break below 1.2860 targets 1.2830/1.2800
It is good to buy on dips around 1.2902-05 with SL around 1.2860 for the TP of 1.2980/1.3020
