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Short

Loonie faces strong support at 1.3050, break below targets 1.295

FX:USDCAD   U.S. Dollar/Canadian Dollar
200 0 4
USD/CAD             has not able to break above trend line resistance around 1.3190 ( trend line joining 1.3150 and 1.3176) and declined till 1.3050 level. It is currently trading at 1.3083.

Trend reversal can be seen only below 1.3050 ( trend line joining 1.2950 and 1.3023) and break below targets 1.2950/1.2860 level.

On the upside minor resistance is around 1.3095 and break above targets 1.3150/1.3190/1.3210.

It is good to sell only on break below 1.3050

It is good to sell below 1.3050 with SL around 1.3105 for the TP of 1.2960/1.2900

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