Loonie takes support near trend line, targets 1.3300

USD/CAD has declined till 1.3177 and started to recover from that level. Loonie is facing strong support around 1.3175 (trend line joining 1.3115 and 1.3135) and further weakness can be seen only below that level.

Any break below 1.3175 will drag the pair further down till 1.3135/1.3100 level.

On the higher side pair’s resistance is around 1.3250 and break above targets 1.3300/1.3350.

Overall bullishness can be seen only above 1.3350 level.

It is good to buy at dips around 1.3185 with SL around 1.3130 for the TP of 1.3300