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- Major Support – 1.2590 (trend line joining 1.27499 and 1.26304)
- Loonie has taken support around 1.25925 and jumped from that level. It is currently trading around 1.26556.
- The pair is slightly bullish and is trading well above Tenken-Sen and Kikun-Sen.
- Short term weakness can be seen only below 1.25900.
- USD/CAD major resistance is around 1.26700 and break above that level will take the Loonie to next level around 1.2750/1.2800 in short term.
- On the downside any violation below 1.25900 will drag the pair down till 1.2550 level.
It is good to buy at dips around 1.2650-55 with SL around 1.2590 for the TP of 1.2745/1.2800.
