Easy trade set up for Intraday traders (USD/CAD)
Major Intraday Support – 1.3390
Loonie has once again recovered sharply after declining slightly below 1.4000 level. It is currently trading around 1.34525.
The pair has also broken major trend line resistance around at 1.3445 (trend line joining 1.35638 and 1.34996).
On the higher side, major resistance is around 1.3540 and any violation above targets 1.3600/1.3660 level.
Short term weakness can be seen below 1.3375 and any indicative break below targets 1.3320/1.3265.
Overall bullishness only above 1.3540.
It is good to buy on dips around 1.3440 with SL around 1.34000 for the TP of 1.3500/1.3530
Loonie has once again recovered sharply after declining slightly below 1.4000 level. It is currently trading around 1.34525.
The pair has also broken major trend line resistance around at 1.3445 (trend line joining 1.35638 and 1.34996).
On the higher side, major resistance is around 1.3540 and any violation above targets 1.3600/1.3660 level.
Short term weakness can be seen below 1.3375 and any indicative break below targets 1.3320/1.3265.
Overall bullishness only above 1.3540.
It is good to buy on dips around 1.3440 with SL around 1.34000 for the TP of 1.3500/1.3530