- USD/CAD has formed head and shoulder pattern in one hour chart and it confirms short term weakness , decline till 1.2915 is possible .
- It is facing major resistance around 1.3050 and break above would extend gains till 1.3120/1.3287 in short term.
- On the downside minor support is around 1.2980 and break below will drag the pair further down till 1.2944/1.2915 in short term.
- Overall bullish invalidation only below 1.2905.
It is good to sell on rallies around 1.3015 with SL around 1.3050 for the TP of 1.2925
The material has been provided by InstaForex Company – www.instaforex.com