USD/CAD trades below major support at 1.3220, dip till 1.3070 likely
Major support- 1.3220 (trend line joining 1.28224 and 1.30060). Loonie breaks major support around 1.3220 and declined slightly till 1.32080 at the time of writing. It is currently trading around 1.3220. On the higher si…
Major support- 1.3220 (trend line joining 1.28224 and 1.30060).
Loonie breaks major support around 1.3220 and declined slightly till 1.32080 at the time of writing. It is currently trading around 1.3220.
On the higher side, next immediate resistance is around 1.3260 (support turned into resistance) and any violation above will take the pair till 1.3310/1.3360.
Any close below 1.3220 will drag the pair down till 1.3150/1.3070 level.
Overall trend reversal only above 1.3590.
It is good to sell on rallies around 1.3250 with SL around 1.3300 for the TP of 1.3150/1.3070
