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- Major resistance – 1.3140 (Jul 11th 2016 high)
- Major support – 1.3082 (4H Tenkan-Sen)
- Loonie has once again retreated after making a high of 1.3138. It is currently trading around 1.31220.
- USD/CAD has formed a temporary top around 1.3140 and any break above confirms major trend reversal, a jump till 1.31880/1.3218/1.3240 is possible .
- On the lower side slight weakness only below 1.3080 and break below targets 1.3050/1.3020 level. The minor support is around 1.3100.
It is good to buy above 1.3140 with SL around 1.3080 for the TP of 1.31880/1.3240
