2016.07.2208:38:00UTC+00Usd/cad Trade Idea

• Major resistance – 1.3140 (Jul 11th 2016 high)
   
• Major support – 1.3082 (4H Tenkan-Sen)
   
• Loonie has once again retreated after making a high of 1.3138. It is currently trading around 1.31220.
   
• USD/CAD has formed a temporary top around 1.3140 and any break above confirms major trend reversal, a jump till 1.31880/1.3218/1.3240 is possible.
   
• On the lower side slight weakness only below 1.3080 and break below targets 1.3050/1.3020 level. The minor support is around 1.3100.

It is good to buy above 1.3140 with SL around 1.3080 for the TP of 1.31880/1.3240

R1- 1.3140

 R2-1.31880

 R3-1.3218

Support

S1-1.3080

S2-1.3020

S3-1.2990