USD/CAD Long-Term Trend: Bullish
Key Resistance Levels: 1.2885, 1.2941, 1.3049
Key Support Levels: 1.2764, 1.2681, 1.2601
The price on the higher time frame has been trading in a range for weeks and recently it tried to break to the downside but faced rejection. Price reversed to the upside with good momentum and it has now broken the range to the upside. Expect the pair to sustain above with USD being strong.
USD/CAD Medium-Term Trend: Bullish
On the lower time frame, the price has shown a reversal from the downside and has broken a resistance zone of 1.2748. Price sustained above that zone and formed minor support at 1.2794 we expect the move to continue if the price holds above this support.
Buy Stop Order @ 1.2824
TP 1 @ 1.2864
TP 2 @ 1.2907
Stop Loss @ 1.2784
Trade Safely 🙂