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FxWirePro: USD/CAD faces resistance around 1.3900, good to sell on rallies

  • Major support -1.3847 (200 day MA)
     
  • The pair has made a low of 1.3835 and slightly recovered from that level. Short term trend is still bearish as long as resistance 1.3900 holds.
     
  • Any break above 1.3900 will take the pair to next level 1.3960/1.4000.
     
  • On the lower side any break below 1.38470 will drag the pair further down till 1.3806/1.3740

It is good to sell on rallies around 1.3860-65 with SL around 1.3905 for the TP of 1.3805/1.3740

 

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