USD/CAD breaks trendline resistance,jump till 1.2200 is possible

USD/CAD has broken short term trend line resistance 1.2050 (trend line joining 1.22037 and 1.21175) and it confirms short term bullishness, a jump till 1.2200 is possible.

Overall trend reversal only below 1.1900 level.

The pair’s minor resistance is around 1.20850 and break above would extend gains till 1.2130/1.2200.

Intraday trend reversal only below 1.2000.

Indicator (1 hour chart)

CCI (50) - Buy

CCI (14) – Buy

Ichimoku- Buy

It is good to buy at dips around 1.2060 with stop around 1.2000 for the target of 1.2130/1.2200.