USD/CAD Trade idea

Major resistance - 1.4314 (55 day 4 H EMA)

• Loonie has broken major resistance 1.4314 and jumped till 1.4180. It is currently trading around 1.4310.
   
• Short term trend is slightly bullish as long as support 1.4250 holds.Any break below 1.4250 will drag the pair down till 1.4190/1.4160.  
   
• On the higher side any break above 1.43140 will take the pair till 1.4360/1.4400.
   
• Short term trend reversal below 1.4160.

It is good to buy at dips around 1.4300 with SL at 1.4250 for the TP of 1.4400

R1-1.43140

R2-1.4360

R3-1.4400

Support

S1-1.4250

S2-1.4190

S3- 1.4160