USD/CAD has formed a minor bottom around 1.23405 and jumped slightly from that level. The pair has jumped till 1.24230 and is currently trading around 1.24100. The pair has taken support near monthly 55- EMA and any furt…
USD/CAD has formed a minor bottom around 1.23405 and jumped slightly from that level. The pair has jumped till 1.24230 and is currently trading around 1.24100.
The pair has taken support near monthly 55- EMA and any further bearish continuation can be seen only below that level. The major near term support is around 1.23200 and nay break below 1.2200 (trend line support)/1.2000.
The near term resistance is around 1.24230 (200- W MA) and any break above will confirm minor bullishness, a jump till 1.25094 (38.2% retracement of 1.27780 and 1.23405)/1.2600/1.26625.
It is good to buy on dips around 1.2395-1.2400 with SL around 1.2325 for the TP of 1.2600/1.2660.
