- USD/CAD has formed temporary top around 1.2562 and is retreating from that level. Overall trend is weak as long as resistance 1.2570 holds.
- On the upside any break above would extend gains till 1.2640/1.2680 in short term.
- The pair’s major support is around 1.2350 and breaks below will the pair further down till 1.2300/1.2245.
It is good to sell on rallies around 1.2500 with SL around 1.2570 for the TP of 1.2350/1.2305.
The material has been provided by InstaForex Company – www.instaforex.com