FxWirePro: USD/CAD breaks resistance at 1.2730, buy deals are recommended above 1.2685

• USD/CAD broke resistance at level at 1.2730, and is advancing further towards next resistance level. The pair is set to continue its bullish trend towards 1.2800 and 1.2850 later

• The currency is trading at 1.2760 level, the immediate support can be seen at 1.2685 level. A break below this level will expose the pair to next support level at 1.2653 (38.2% Retracement level).

• Major resistance can be found at 1.2830 ( March 8^th high), a break above this level will exposes it to the 1.2880 handle. Traders should trade this pair with caution, due to FOMC meeting is scheduled later in the day. Any dovish or hawkish comments coming from FOMC will have a significant impact on the market.

Recommendation: Go long above 1.2685 with Targets at 1.2780, 1.2830 SL 1.2650.

Resistance Levels

R1: 1.2774 (July 7^th high)

R2: 1.2810 (March 20^th high)

R3: 1.2830 (March 18^th high)

Support Levels

S1: 1.2685                                                           

S2: 1.2653 (38.2% Retracement level)    

S3: 1.2610