Loonie faces strong support at 1.2900, good to buy at dips
USD/CAD has made a low of 1.2910 and slightly recovered from that level. Overall trend is still bullish as long as support 1.2900 holds.
Overall bullish invalidation can happen only below 1.2900.
On the downside any break below 1.2900 will drag the pair further down till 1.2850/1.2716 in short term.
The pair’s minor resistance are at 1.2976/1.3010 level.
It is good to buy at dips around 1.2925-30 with SL 1.2840 for the TP of 1.3005/1.3100.
Overall bullish invalidation can happen only below 1.2900.
On the downside any break below 1.2900 will drag the pair further down till 1.2850/1.2716 in short term.
The pair’s minor resistance are at 1.2976/1.3010 level.
It is good to buy at dips around 1.2925-30 with SL 1.2840 for the TP of 1.3005/1.3100.
