TipTVFinance

USD/CAD - Inverse head and shoulder

FX:USDCAD   U.S. Dollar / Canadian Dollar
Resistance - 1.3107, 1.3185, 1.3312

Support - 1.2987, 1.2914, 1.2771

Pair's recovery from 1.3042 (daily 5-MA) followed by a move above 1.30 handle amid bullish daily RSI would open doors for a test of inverse head and shoulder neckline located at 1.3185 levels,

On the other hand, a clear break below 1.2987 (23.6% of 1.4690-1.2461) is needed to signal bullish invalidation.

Moreover, rejection at neckline resistance followed by a break below 1.2987 would signal renewed sell-off to 1.2770-1.27 levels.
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