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USD/CAD faces strong support at 1.3980, break below targets 1.3885

  • Major Support: 1.3980 (trend line joining 1.4044 and 1.4028)
     
  • Minor intraday resistance -1.4040 (20 day HMA)
     
  • Any break below 1.3980 will drag the pair down till 1.3900/1.38850/1.3830. On the higher side major resistance is around 1.4040 and break above will take the pair till next level till 1.4082/1.4100/1.4150.
     
  • Short term bullishness only above 1.4082 level.

It is good to sell below 1.3980 with SL around 1.4040 for the TP of 1.38850/1.3830

 

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