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- CAD is consolidating in narrow range after hitting low of 1.28590. The pair is trading between 1.28590 and 1.29324. It is currently trading around 1.29142.
- Market awaits BOC monetary policy meeting tomorrow for further direction. Any hike in the rate will take the pair to new 10- month low.
- On the higher side, major resistance is around 1.3000 and any break minor bullishness can be seen only above that level. Any break above will take the pair till 1.3045 (38.2% retracement of 1.33475 and 1.2856)/1.3100. The minor resistance is around 1.2325 (21- 4H EMA).
- The near term support stands at 1.2825 (Jun 9th 2017 low) and any break below will drag the pair till 1.27635.
It is good to sell on rallies around 1.2940-45 with SL around 1.300 for the TP of 1.2825/1.2765
