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Short

USD/CAD trades below major support 1.3290, targets 1.3160

FX:USDCAD   U.S. Dollar / Canadian Dollar
265 2 2
Potential Reversal Zone (PRZ) - 1.3290

Loonie has broken major support 1.3290 and declined till 1.3250 level. Overall trend is bearish as long as resistance 1.3300 holds.

Any break above 1.3300 will take the pair to next level 1.3350/1.3370.

Overall bearish invalidation only above 1.3370 level.

On the lower side USD/CAD             has made a low of 1.3250 at the time of writing will be acting as minor support and break below targets 1.3220/1.3160.

The pair’s minor support is around 1.3280.

It is good to sell on rallies around 1.3265-70 with SL around 1.3300 for the TP of 1.3160
I have been watching this pair for a couple of weeks now and i have been surprised at how it strongly recovers on every dip, simply because it is very exhausted on the weekly tf. This pair will roll over at some point over the next 2 weeks and when it does, it will be a long hard drop.
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Any update for this pair ?
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