USD/CAD takes support near trend line, targets 1.2800
Major Support – 1.2590 (trend line joining 1.27499 and 1.26304)
Loonie has taken support around 1.25925 and jumped from that level. It is currently trading around 1.26556.
The pair is slightly bullish and is trading well above Tenken-Sen and Kikun-Sen.
Short term weakness can be seen only below 1.25900.
USD/CAD major resistance is around 1.26700 and break above that level will take the Loonie to next level around 1.2750/1.2800 in short term.
On the downside any violation below 1.25900 will drag the pair down till 1.2550 level.
It is good to buy at dips around 1.2650-55 with SL around 1.2590 for the TP of 1.2745/1.2800.
Loonie has taken support around 1.25925 and jumped from that level. It is currently trading around 1.26556.
The pair is slightly bullish and is trading well above Tenken-Sen and Kikun-Sen.
Short term weakness can be seen only below 1.25900.
USD/CAD major resistance is around 1.26700 and break above that level will take the Loonie to next level around 1.2750/1.2800 in short term.
On the downside any violation below 1.25900 will drag the pair down till 1.2550 level.
It is good to buy at dips around 1.2650-55 with SL around 1.2590 for the TP of 1.2745/1.2800.
