USD/CAD Trade Idea

Loonie has made a low of 1.30801 at the time of writing and slightly recovered from that level. It is currently trading around 1.3108.

• The pair has broken minor trend line resistance 1.3095 and jumped till 1.3119. Loonie is expected to reach till 1.3124 and break above targets 1.3165/1.3190/1.3237.
   
• On the downside minor support is around 1.3080 and break below targets 1.3050/1.3030.
   
• Short term weakness only below 1.3030.

It is good to buy at dips around 1.31085 with SL around 1.3050 for the TP of 1.3195/1.3235

Resistance

R1- 1.3124

 R2-1.3195

R3- 1.3230

Support

S1-1.3080

S2-1.3050

S3-1.3030