Fxwirepro: Loonie Faces Strong Support at 1.2840, Good to Buy at Dips

  • USD/CAD has made a low of 1.2910 and slightly recovered from that level. Overall trend is still bullish as long as support 1.2900 holds.
  • Overall bullish invalidation can happen only below 1.2900.
  •  On the downside any break below 1.2900 will drag the pair further down till 1.2850/1.2716 in short term.
  • The pair’s minor resistance are at 1.2976/1.3010 level.

It is good to buy at dips around 1.2925-30 with SL 1.2840 for the TP of 1.3005/1.3100.

The material has been provided by InstaForex Company – www.instaforex.com