FxWirePro: USD/CAD key support at 1.3210, buy deals are recommended above 1.3220

>USD/CAD has slipped back towards 1.3234 levels, after failing to break 1.3300 psychological levels. However, the pair may extend its weakness up to 1.3210 levels and consolidate to reach higher levels, as this area has been a strong support zone for the pair. Therefore, it's good to entry long order above 1.3220 levels.

>The currency pair is trading at 1.3244 levels, it is expected to reach 1.3270 levels and 1.3300 levels in the short term, as the US Dollar is set to gain against its oil correlated Canadian counterpart.

>The immediate support can be seen at 1.3231 (Sep 23rd lows), break below this level will expose the pair to next support level at 1.3210 (38.2% Retracement level).

>Major resistance can be seen at 1.3293, break above this level will expose it towards 1.3326(Sep 2nd high) levels.

Recommendation: Go long above 1.3210 with targets at 1.3260, 1.3300 SL 1.3100.

Resistance Levels

R1: 1.3256 (23.6% Retracement level)

R2: 1.3293 (Sep 23rd high)

R3: 1.3326 (Sep 2nd high)

Support Levels

S1: 1.3231 (Sep 23rd lows)

S2: 1.3210 (38.2% Retracement level)

S3: 1.3173 (50% Retracement level)