- Major support – 0.7400 (trend line joining 0.7333 and 0.7363)
- The pair has declined till 0.7414 and slightly recovered from that level. It is currently trading around 0.7423.
- Short term trend is weak as long as resistance 0.7465 holds.
- Canadian dollar has been trading weak from Friday on account of weak Oil prices .Crude oil prices declined after making a high $41.18 on account of U.S rig count rose for the first time since December.
- Any break above 0.7465 will take the pair to next level 0.7500/0.75687.
- On the downside any break below 0.7400 will drag the pair till 0.735/0.7290
It is good to sell below 0.7400 with SL around 0.7465 for the TP of 0.7290
R1-0.7465
R2-0.7500
R3- 0.7568
Support
S1- 0.7400
S2-0.7350
S3-0.7290
