Loonie breaks major trend line resistance 1.3200, targets 1.3310
USD/CAD has been trading in the range of 1.3195 -1.3023 for the past five trading session.
Loonie has broken major trend line resistance 1.3200 and this confirms short term bullishness, a jump till 1.3370 (161.8% retracement of 1.3212 and 1.2950) cannot be ruled out .
On the lower side minor support is around 1.3150 and break below targets 1.3100/1.3050.
Major trend reversal only below 1.3050 .Any break below confirms bearishness and decline till 1.2950 is possible .
It is goo t obuy at dips around 1.3215-18 with SL around 1.3170 for the TP of 1.3310/1.3374
Loonie has broken major trend line resistance 1.3200 and this confirms short term bullishness, a jump till 1.3370 (161.8% retracement of 1.3212 and 1.2950) cannot be ruled out .
On the lower side minor support is around 1.3150 and break below targets 1.3100/1.3050.
Major trend reversal only below 1.3050 .Any break below confirms bearishness and decline till 1.2950 is possible .
It is goo t obuy at dips around 1.3215-18 with SL around 1.3170 for the TP of 1.3310/1.3374