Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

USD/CAD trades well below major support 1.3290, decline till 1.3160 is possible

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

 

  • Market Data
Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.