- USD/CAD is approaching resistance level at 1.3138, the support level at, 1.3091 (61.8% Retracement level) is set to hold the bears and push the pair further upside towards 1.3160 and 1.3200 levels in the short term.
- The currency is trading at 1.3129 levels, the immediate support can be seen at 11.3091, break below this level will expose the pair to next support level at 1.3029 (July 24th lows).
- Major resistance can be seen at 11.3178 (38.2% Retracement level), break above this level will expose it to the 1.3200 handle.
Recommendation: Go long above 1.3100 with Targets at 1.3180, 1.3200 SL 1.2960.
R3: 1.3241 (23.6% Retracement level)
S1: 1.3091 (61.8% Retracement level)
S3: 1.29990 (July 27th lows)
The material has been provided by InstaForex Company – www.instaforex.com