Loonie faces strong support at 1.3050, break below targets 1.295
USD/CAD has not able to break above trend line resistance around 1.3190 (trend line joining 1.3150 and 1.3176) and declined till 1.3050 level. It is currently trading at 1.3083.
Trend reversal can be seen only below 1.3050 (trend line joining 1.2950 and 1.3023) and break below targets 1.2950/1.2860 level.
On the upside minor resistance is around 1.3095 and break above targets 1.3150/1.3190/1.3210.
It is good to sell only on break below 1.3050
It is good to sell below 1.3050 with SL around 1.3105 for the TP of 1.2960/1.2900
Trend reversal can be seen only below 1.3050 (trend line joining 1.2950 and 1.3023) and break below targets 1.2950/1.2860 level.
On the upside minor resistance is around 1.3095 and break above targets 1.3150/1.3190/1.3210.
It is good to sell only on break below 1.3050
It is good to sell below 1.3050 with SL around 1.3105 for the TP of 1.2960/1.2900