Major resistance – 0.7550 ( joining 0.74615 and 0.75163)
Major support - 0.74350 ( joining 0.71350 and 0.73922)
Canadian dollar gained against all major pair’s yesterday after BOC kept the interest rates on hold and also due to higher oil prices.
The pair has made a high of 0.75390 and slightly retreated from that level. It is currently trading around 0.7517.
Any break above 0.7550 confirms major trend reversal a jump till 0.76180/0.7740 is possible.
On the lower side any break below 0.7435 will drag the pair down till 0.7350/0.7300.
It is good to buy at dips around 0.7460 with SL around 0.7410 for the TP of 0.7618/0.7740