USD/CAD Trade idea

• Major support – 1.3100 (trend line joining 1.2460 and 1.27638).
   
• USD/CAD touched major trend line support 1.3100 yesterday. It is expected to break trend line support after US Fed monetary policy.
   
• US Fed Monetary policy meeting is to be held today and markets expect Fed to raise interest rates . The main focus will be on the projections for 2017 and  Yellen’s statements .Any break below 1.3100 will drag the pair down till 1.3070 (200- day MA)/1.3000.
   
• On the higher side, 1.3250 will be acting as major resistance and slight bullishness only above that level. The minor resistance is at 1.3190 (100- day MA).
  
  It is good to sell below 1.31000 with SL around 1.3151 for the TP of  1.3000.                          

Resistance                                                                                 

R1-1.3190

R2-1.3250

R3- 1.3300

Support               

S1-1.3100

S2-1.3000

S3- 1.2945