USD/CAD Trade Idea

• Major resistance- 1.3190 (Sep 13th high).
   
• Major support – 1.3130 (hourly Kijun-Sen).
   
• Loonie has recovered after declining till 1.3128 at the time of writing. It is currently trading around 1.31694.
   
• Short term trend is slightly bullish as long as support 1.3130 holds. Any break below 1.3130 will drag the pair down till 1.3100/1.3070/1.3040 (100- HMA).
   
• On the higher side, any break above 1.3190 will take the pair to next level till 1.3240/1.3300.

It is good to buy on dips around 1.3160 with SL around 1.3100 for the TP of 1.3240/1.3300.

Resistance
 

R1- 1.3190
 

R2-1.3240

R3-1.3300
 

Support
 

S1-1.3130
 

S2-1.3100
 

S3-1.3050