USD/CAD faces strong support around 1.3100, good to buy at dips
Major Intraday support -1.3100 (trend line joining 1.2857 and 1.30024)
The pair has retreated after making a high of 1.32186. It is currently trading around 1.31469.
Intraday trend is slightly bullish as long as support 1.3100 holds. Any break below 1.3100 will drag the pair down till 1.3060/1.3000.
On the higher side major resistance is around 1.3150 and break above targets 1.3220/1.3280/1.3310.
Overall bearish invalidation can happen if it closes above 1.3400.
It is good to buy at dips around 1.3145-1.3150 with SL around 1.3100 for the TP of 1.3215/1.3270/1.3300.
The pair has retreated after making a high of 1.32186. It is currently trading around 1.31469.
Intraday trend is slightly bullish as long as support 1.3100 holds. Any break below 1.3100 will drag the pair down till 1.3060/1.3000.
On the higher side major resistance is around 1.3150 and break above targets 1.3220/1.3280/1.3310.
Overall bearish invalidation can happen if it closes above 1.3400.
It is good to buy at dips around 1.3145-1.3150 with SL around 1.3100 for the TP of 1.3215/1.3270/1.3300.