USDCAD breaks major resistance at 1.3420, jump till 1.3530 likely
Tuesday, April 4, 2017 8:40 AM UTC
- Major resistance -1.34150 (Mar 28th 2017 high)
- Major support – 1.3378 (21- H EMA)
- USD/CAD has broken major resistance at 1.3420 and jumped till 1.34339 at the time of writing. It is currently trading around 1.34311.
- On the higher side, any break above 1.3420 confirms minor bullishness, a jump till 1.3500/1.3535 (Mar 9th high).
- The major intraday support is around 1.3375 and any break below targets 1.3350 (200- H MA)/1.3300/1.3260 (Mar 21st 2017 low).
- Minor bullish invalidation only below 1.3260.
It is good to buy on dips around 1.3430 with SL around 1.3375 for the TP of 1.3530.