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Short

USD/CAD faces support at 1.2580, break below targets 1.2500

FX:USDCAD   U.S. Dollar/Canadian Dollar
267 1 10
Major Support -1.2580 ( trend line joining 1.27499 and 1.26304)

Major Resistance – 1.2760

Loonie has made a low of 1.2950 and slightly recovered till 1.26330 from that level. It is currently trading around 1.2601.

Intraday trend is weak as long as resistance 1.2641 (Kijun-Sen)

Any break above 1.26410 will take the pair till 1.2700/1.2760 level.

Short term trend reversal can happen below 1.2580 and break below targets 1.2550/1.2500.

It is good to sell only below 1.25800 with SL around 1.2640 for the TP of 1.2500/1.2460
Where does this support line come from?
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