USD/CAD is under short-term pressure

USD/CAD is under short-term pressure

Trade ideas

SELL 1.3340; TP 1.3310; SL 1.3350

BUY 1.3375; TP 1.3430; SL 1.3360

USD/CAD broke below 1.3370 on Friday. This level will provide the short-term resistance for the pair acting as a neckline for the “Double top”. As long as the price stays below this level, the near-term focus will be on the 100-day MA at 1.3310.

The advance above 1.3370 will open the way up to 1.3430 where USD/CAD will meet resistance provided by the line connecting March highs.



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