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Loonie faces major trend line support around 1.3225, break below targets 1.3120

USD/CAD has made a temporary top around 1.3278 and slightly retreated from that level. It is currently trading at 1.3229.

  • The pair is facing minor trend line support around 1.3225 (trend line joining 1.30396 and 1.31685) and break below targets 1.3150/1.3120 level in short term.
     
  • Further bullishness can be seen only above 1.3280 level. Break above would take the pair to next level around 1.3313/1.3350.

It is good to sell only below 1.3225 with SL around 1.3280 for the TP of 1.3150/1.3120.

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