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- Major Resistance- 1.3320 (trend line joining 1.32481 and 1.32809).
- Major support – 1.3175 (10- day MA).
- Loonie has taken support near trend line support at 1.3130 and started to jump from that level. The pair jumped till 1.2725 on Monday and is currently trading at 1.32380.
- Short term trend is bullish as long as support 1.3130 holds. Any violation above 1.3280 will take the pair to next level till 1.3320/1.3400 in the short term.
- The minor weakness can be seen below 1.3170 (21- day MA) and any break below targets 1.3130/1.3100.
It is good to buy on dips around 1.3185-1.3190 with SL around 1.3130 for the TP of 1.3280/1.3320.
Resistance
R1-1.3280
R2-1.3320
R3-1.340
Support
S1-1.3175
S2-1.3130
S3-1.3100
