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USD/CAD faces strong support around 1.3780, break below targets 1.3635

Major Support - 1.3780 (Sep 9th 2015) Loonie has retreated after making a high of 1.4016 on Thursday. It is currently trading around 1.38205. The pair's major support is around 1.3780 and break below targets 1.3700 (tren…

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USD/CAD faces strong support around 1.3780, break below targets 1.3635
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  • Major Support - 1.3780 (Sep 9th 2015)
     
  • Loonie has retreated after making a high of 1.4016 on Thursday. It is currently trading around 1.38205.
     
  • The pair's major support is around 1.3780 and break below targets 1.3700 (trend line joining 1.2830 and 1.36392)/1.3635.
     
  • On the higher side minor resistance is around 1.3850 and break above targets 1.3900/1.39600.
     
  • Overall bearish invalidation only if it closes above 1.4000.

It is good to sell only below 1.3780 with SL around 1.3855 for the TP of 1.3705/1.3635

 

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