Technical outlook and chart setups:
The USD/CAD pair sharply fell from yesterdays’ high of 1.3279 before pulling back. The pair is trading around the level of 1.3220 at the moment, with bears poised to pull it lower until prices remain below at least 1.3279. It is hence recommended to remain short from yesterday with risk at 1.3470. Immediate support is seen at 1.3037 followed by 1.2930 and lower, while resistance is seen at 1.3450.
Remain short with stop at 1.3470, a target is open.
The material has been provided by InstaForex Company – www.instaforex.com