USD/CAD retreats from higher levels, good to buy at dips
USD/CAD breaks major resistance 1.3050 and jumped till 1.3096. It is currently trading at 1.30235.
Overall bullish invalidation can happen below 1.2950. Any break below 1.2950 will target 1.2915/1.2838.
Short term reversal below 1.2915.
Loonie is trading weak due to lower oil prices, lower interest rates and lowering economic outlook.
On the higher minor resistance is around 1.3100 and any break above would extend gains till 1.3287 (61.8% projection of 1.0620 to 1.2834 from 1.1919) /1.3400.
It is good to buy at dips around 1.3020-25 with SL around 1.2950 for the TP of 1.3280/1.3390.
Overall bullish invalidation can happen below 1.2950. Any break below 1.2950 will target 1.2915/1.2838.
Short term reversal below 1.2915.
Loonie is trading weak due to lower oil prices, lower interest rates and lowering economic outlook.
On the higher minor resistance is around 1.3100 and any break above would extend gains till 1.3287 (61.8% projection of 1.0620 to 1.2834 from 1.1919) /1.3400.
It is good to buy at dips around 1.3020-25 with SL around 1.2950 for the TP of 1.3280/1.3390.