Usd/cad Trade Idea

  • USD/CAD has recovered after making a low of 1.23032. Overall trend is bullish as long as support 1.2270 is intact.
  • Break below 1.2270 will drag the pair further down till 1.2200/1.2160 in short term.
  • On the higher side resistance is around 1.2360 and any indicative break above would extend gains till 1.2400/1.2420.

It is good to buy at declines around 1.2320 with SL around 1.2270 for the TP of 1.2420.

Resistance

R1- 1.2360

R2-1.2400

R3- 1.2425

Support

S1-1.2270

S2-1.2200

S3-1.2160 

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

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