USD/CAD breaks major trend line support at 1.4500, targets 1.430
Major trend line support – 1.4450 (trend line joining 1.4064 and 1.4187)
Loonie has broken major trend line support 1.4450 and declined till 1.44393 at the time of writing. It is currently trading around 1.4418.
Short term trend is slightly bullish as long as resistance 1.4545 holds.
On the lower side any break below 1.4450 will drag the pair till down till 1.3850/1.3000 in short term.
The pair’s minor resistance is around 1.4490.Any break above trend line resistance 1.4545 will take the pair to next level around 1.4600/1.4640.
It is good to sell on rallies 1.4450-55 with SL around 1.4505 for the TP of 1.4385/1.4300
Loonie has broken major trend line support 1.4450 and declined till 1.44393 at the time of writing. It is currently trading around 1.4418.
Short term trend is slightly bullish as long as resistance 1.4545 holds.
On the lower side any break below 1.4450 will drag the pair till down till 1.3850/1.3000 in short term.
The pair’s minor resistance is around 1.4490.Any break above trend line resistance 1.4545 will take the pair to next level around 1.4600/1.4640.
It is good to sell on rallies 1.4450-55 with SL around 1.4505 for the TP of 1.4385/1.4300