FxWirePro: USD/CAD key support at 1.3206, buy deals are recommended above 1.3220

USD/CAD after a brief surge in today's European session, USD/CAD has retreated back below 38.2 fib support level.  The pair is set to consolidate above 1.3200 levels and reach higher levels in the short term. Therefore, it's good to go long on this pair around 1.3230 price area.

• The currency pair is trading at 1.3251 levels, it is expected to reach 1.3300 levels and 1.3340 levels in the short term, as the US Dollar stronger across the board against Canadian dollar.

• The immediate support can be seen at 1.3240 (38.2% Retracement level), break below this level will expose the pair to next support level at 1.3205.

• Major resistance can be seen at 1.3303 (Aug 28h high), break above this level will expose it towards 1.3340 levels.

Recommendation: Go long above 1.3220 with targets at 1.3300, 1.3340 SL 1.3160.

Resistance Levels

R1: 1.3273(Sep 2nd high)               

R2: 1.3297 (23.6% Retracement level)    

R3: 1.3326 (Aug 31st high)

Support Levels

S1: 1.3261 (38.2% Retracement level)                    

S2: 1.3233 (50% Retracement level)

S3: 1.3208 (61.8% Retracement level)