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USD/CAD has been trading in the range of 1.3195 -1.3023 for the past five trading session.
- Loonie has broken major trend line resistance 1.3200 and this confirms short term bullishness, a jump till 1.3370 (161.8% retracement of 1.3212 and 1.2950) cannot be ruled out.
- On the lower side minor support is around 1.3150 and break below targets 1.3100/1.3050.
- Major trend reversal only below 1.3050 break below confirms bearishness and decline till 1.2950 is possible.
It is good to buy at dips around 1.3215-18 with SL around 1.3170 for the TP of 1.3310/1.3374
Resistance
R1- 1.3250
R2-1.3300
R3- 1.3374
Support
S1-1.3150
S2-1.3050
S3-1.2950
