Will Loonie follow dollar ? USDCAD Daily outlook

CAD broken the range to downside, can test 1.32

Technical Overview: USDCAD currently at 1.3305, currently trading above the psychological level 1.33 and above the key support 1.3285. A break upside 1.3380 can test immediate resistance 1.35. Downside support lies at 1.3280 a break can test 1.32 and 1.3150, one can enter in every rise till 1.3330 for downside 1.32 and a break can see a sharp fall till 1.30. Overall sell on rise is advised for the day.

Suggestion: SELL USDCAD TILL 1.3320 FOR 1.32 AND 1.3180 ELSE BUY ABOV 1.3450 FOR 1.35/3530

Important levels to watch:

Support Levels

S1: 1.3280 S2: 1.3230 S3: 1.3200

Resistance Levels

R1: 1.3350 R2:1.3405 R3: 1.3450

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