- Major resistance- 1.3260 (Jul 27th high).
- Major support – 1.3000
- Loonie has made a temporary bottom around 1.3000 and started to increase sharply from that level .It is currently trading around 1.31985.
- Short term trend is bullish as long as support 1.3147 (10- day MA) holds.
- On the higher side , the resistance is around 1.3260 and any violation above the top formed at Jul 27th 2016 will take the pair to next immediate level till 1.3300/1.3360 level.
- Any break below 10 –day MA will drag the pair till 1.3100/1.3067 (21- day MA).
- Overall bullish invalidation only below 1.300.
It is good to buy on dips around 1.3165 with SL around 1.3100 for the TP of 1.3255/1.3300.
Resistance
R1-1.3260
R2-1.330
R3-1.3360
Support
S1-1.3165
S2-1.3100
S3-1.3067
