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USD/CAD has slipped back towards 1.3544 levels, after failing break resistance level at 1.3595, after a strong bullish surge towards 1.3600 levels yesterday. The pair's decline may extend up to 1.3500 levels and rebound as the pair finds strong support at 1.3480 levels.
- The currency pair is trading at 1.3553 levels, it is expected to reach 1.3600 levels and 1.3650 levels in the short term.
- To the upside, the strong resistance can be seen at 1.3621, a break above this level would take the pair all the way towards 1.3700 levels.
- To the downside immediate support can be seen 1.3548, a break below this level will take the pair to next level at 1.3513.
Recommendation: Go long around 1.3520, targets 1.3580, 1.0640, SL 1.3470
Resistance Levels
R1: 1.3592 (23.6% Retracement level)
R2: 1.3621 (Daily high)
R3: 1.3663
Support Levels
S1: 1.3550 (38.2% Retracement level)
S2: 1.3513 (50% Retracement level)
S3: 1.3480 (61.8% Retracement level)
