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Loonie forms Bullish Cypher pattern, good to sell on raliies

FX:USDCAD   U.S. Dollar/Canadian Dollar
282 0 3
Harmonic Pattern Formed -Bullish Cypher pattern

Potential reversal Zone (PRZ) - 1.34350

The pair has retreated after making a high of 1.3435 and is currently trading at 1.3349. Canadian dollar             has slightly recovered after Saudi Arabia has pledged to stabilise crude oil             prices.

The focus will on Upcoming OPEC meeting which is to be held on Dec             4th and the hope that some production cuts will be forthcoming.

On the lower side minor support is around 1.3340 and break below targets 1.3315/1.3290./1.3245.

The pair's major support is around 1.3220 and below that level decline till 1.3160/1.3100 is possible.

The short term resistance is around 1.3380 and above that jump till 1.3435/1.3460

It is good to Sell on rallies around 1.3365-70 with SL around 1.3435 for the TP of 1.3320/1.3160
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