- Major support -1.2500
- Major resistance - 1.2600 (7 day EMA)
- USD/CAD has broken major support 1.2500 and trades well below that level. It is currently trading at 1.2485.
- Short term trend is weak as long as resistance 1.2600 holds. Any indicative break above 1.2600 will take the pair to next level till 1.2680/1.2750/1.2800.
- Overall bearish invalidation only above 1.2800.
- On the lower side any break below 1.2500 will drag the pair down till 1.2400/1.2300/1.2240.
It is good to sell on rallies around 1.2600 with SL around 1.2660 for the TP of 1.2300/1.2240
R1-1.2600
R2-1.2680
R3-1.2750
Support
S1-1.2460
S2-1.2300
S3-1.2240
