Major resistance – 1.3360
Major support – 1.327 (23.6% retracement of 1.30060 and 1.33549).
Loonie breaks major resistance 1.33137 the top formed at Oct 7th 2016 and jumped till 1.33595 at the time of writing. It is currently trading around 1.3340.
On the higher side, 1.3360 is acting as major resistance and any break above confirms major trend reversal, a jump till 1.3400/1.3500 (161.8% retracement of 1.33137 and 1.30060) is possible.
The minor support stands at 1.3270 and any break below will drag the pair to next level till 1.3210 (7- day EMA)/1.3160 (200- day MA).
It is good to buy above 1.3360 with SL around 1.3270 for the TP of 1.34980.
Major support – 1.327 (23.6% retracement of 1.30060 and 1.33549).
Loonie breaks major resistance 1.33137 the top formed at Oct 7th 2016 and jumped till 1.33595 at the time of writing. It is currently trading around 1.3340.
On the higher side, 1.3360 is acting as major resistance and any break above confirms major trend reversal, a jump till 1.3400/1.3500 (161.8% retracement of 1.33137 and 1.30060) is possible.
The minor support stands at 1.3270 and any break below will drag the pair to next level till 1.3210 (7- day EMA)/1.3160 (200- day MA).
It is good to buy above 1.3360 with SL around 1.3270 for the TP of 1.34980.