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Long

USD/CAD faces strong resistance at 1.4000, good to buy at dips

FX:USDCAD   U.S. Dollar/Canadian Dollar
191 0 4
Minor resistance – 1. 3900             ( trend line joining 1.43255 and 1.41026)

Major resistance -1.4000

Major support – 1.3840 ( trend line joining 1.3693 and 1.3780)

The pair has broken minor resistance 1. 3900             and jumped till 1.39980. It is currently trading around 1.39510.Break above major resistance confirms major trend reversal , jump till 1.4100/1.414 is possible

Overall trend is slightly bullish as long as support 1.3840 holds. Short term trend reversal only below 1.3880.

Any break below 1.3880 will drag the pair down till 1.3840/1.3800.

It is good to buy at dips around 1.3940-45 with SL around 1.3880 for the TP of 1.3988/1.4080
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