• Pattern formed – Bullish AB= CD Pattern
   
• Bullish Divergence (RSI and MACD)
   
• Loonie formed a bottom around 1.29684 and jumped sharply from that level. It is currently trading around 1.30274.
   
• Short term trend is slightly bullish as long as support 1.2950 holds.
   
• On the higher side, minor resistance is around 1.30750 (5- day MA) and any break above will take the pair till 1.3123 (10- day MA)/1.3160.
   
• The major support is around 1.29500 and any break below will drag the pair till 1.2900 (161.8% fibo)/1.2820 (Sep 6th 206 low).
   
• Overall trend reversal only above 1.35885.
  
  It is good to buy on dips around 1.3000 with SL around 1.2950 for the TP of 1.3120/1.3160