USD/CAD is trading within a wide range, 1.2800 - 1.3200 areas. The pair found resistance at 1.3250 and corrected down to 50% Fibs (1.3035) that so far has been rejected with the candle close above this level.
At the same time, price is very close to 200-Moving Average that should, once again, act as support. Current price could be a good entry point to go long in order to profit from the potential corrective wave up.
Consider buying USD/CAD while price is near 1.3035, targeting nearest resistance area at 1.3145. The stop loss should be below the 200 MA, just below the 1.3000 psychological support.
Support: 1.3055, 1.3000
Resistance: 1.3145, 1.3250
From www.instaforex.com http://ift.tt/2cTMD11
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