Fxwirepro: Usd/cad Trade Idea!

  • Major resistance- 1.34200
  • Major support – 1.3300
  • Loonie recovered sharply from the low of 1.33173 yesterday. It is currently trading around 1.34191.
  • Any convincing break above 1.34200 will take the pair to next level till 1.3465/1.3530. The pair should close above 1.35885 for further bullishness
    .
  • On the lower side, any break below 1.3300 (7- day EMA) will drag the pair down till 1.3250 (daily Tenken-Sen)/1.3200 (100- day MA).It is good to buy on dips around 1.34000 with SL around 1.3300 for the TP of 1.3530/1.35885

Resistance

R1-1.3420

R2-1.3530

R3- 1.35880

Support

S1-1.3300

S2-1.3250

S3- 1.3200

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