USD/CAD faces strong resistance at 1.4000, good to buy at dips
Minor resistance – 1.3900 (trend line joining 1.43255 and 1.41026)
Major resistance -1.4000
Major support – 1.3840 (trend line joining 1.3693 and 1.3780)
The pair has broken minor resistance 1.3900 and jumped till 1.39980. It is currently trading around 1.39510.Break above major resistance confirms major trend reversal , jump till 1.4100/1.414 is possible
Overall trend is slightly bullish as long as support 1.3840 holds. Short term trend reversal only below 1.3880.
Any break below 1.3880 will drag the pair down till 1.3840/1.3800.
It is good to buy at dips around 1.3940-45 with SL around 1.3880 for the TP of 1.3988/1.4080
Major resistance -1.4000
Major support – 1.3840 (trend line joining 1.3693 and 1.3780)
The pair has broken minor resistance 1.3900 and jumped till 1.39980. It is currently trading around 1.39510.Break above major resistance confirms major trend reversal , jump till 1.4100/1.414 is possible
Overall trend is slightly bullish as long as support 1.3840 holds. Short term trend reversal only below 1.3880.
Any break below 1.3880 will drag the pair down till 1.3840/1.3800.
It is good to buy at dips around 1.3940-45 with SL around 1.3880 for the TP of 1.3988/1.4080
