Fxwirepro: Usd/cad Key Support at 1.3171, Upside Prevails in the Short Term

  • The immediate support can be seen at 1.3205, break below this level will expose the pair to next support level at 1.3171 (61.8% Retracement level).
  • Major resistance can be seen at 1.3276 (50% Retracement level), break above this level will expose it towards 1.3340 levels.

Recommendation: Go long above 1.3190 with targets at 1.3250, 1.3280 SL 1.3100.

Resistance Levels

R1: 1.3240 (38.2% Retracement level)

R2: 1.3279 (23.6% Retracement level)    

R3: 1.3340 (Aug 26th high)

Support Levels

S1: 1.3205 (50% Retracement level)                        

S2: 1.3171 (61.8% Retracement level)

S3: 1.3142 (Aug 25th lows)

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

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