- Loonie has made a high of 1.4169 and started to decline from that level. It is currently trading around 1.4110
- The pair has declined till 1.4050 and recovered from that level. Short term trend is still bullish as long as support 1.3990 holds.
- The major resistance is around 1.4169 and any break above 1.4250/1.4300 is possible.
- On the lower side major weakness can be seen only 1.3800 and any break below 1.3800 targets 1.3690/1.3550. The minor support is around 1.4040 and break below will drag the pair down till 1.3990/1.3927/1.3880.
It is good to buy at dips around 1.4050 with SL around 1.3990 for the TP of 1.425/1.4300
The material has been provided by InstaForex Company – www.instaforex.com