USD/CAD Trade idea

• Major resistance – 1.2950 (trend line joining 1.3008 and 1.29896)
   
• Major support – 1.2900
   
• Loonie breaks minor intraday resistance at 1.2950 at the time of writing and jumped till 1.29550. It is currently trading around 1.29544.
   
• The pair has recovered after making a low of 1.29060.
   
• Short term trend is slightly bearish as long as resistance 1.3000 (200 HMA)  holds.
   
• On the lower side, major support is around 1.2870 and any violation below 1.2870 will drag the pair till 1.2830/1.2750.
   
• Technically any break above 1.3000 (200 HMA) confirms minor bullishness, a jump till 1.3050/1.3120.

It is good to sell on rallies around 1.2955-1.2960 with SL around 1.3005 for the TP of 1.2870/1.2835

R1- 1.2960

 R2-1.3000

 R3-1.3050

Support

S1-1.2870

S2-1.2830

S3-1.2750