Loonie struggles to break below 1.3150, good to buy at dips
Potential Reversal Zone( PRZ)- 1.3150
Loonie has made a high of 1.3352 on Tuesday and declined till 1.3166 from that level. It is currently trading at 1.3240. It has almost formed a double top around 1.335 and not able to cross above that level.
Any break above 1.3350 will take the pair to new level 1.3880.
The pair’s minor resistance is around 1.3300
On the downside major support is around 1.3150 and break below targets 1.3055.
Bullish invalidation only below 1.3050.
It is good to buy at dips around 1.3200 with SL around 1.3150 for the TP of 1.3295/1.3350
Loonie has made a high of 1.3352 on Tuesday and declined till 1.3166 from that level. It is currently trading at 1.3240. It has almost formed a double top around 1.335 and not able to cross above that level.
Any break above 1.3350 will take the pair to new level 1.3880.
The pair’s minor resistance is around 1.3300
On the downside major support is around 1.3150 and break below targets 1.3055.
Bullish invalidation only below 1.3050.
It is good to buy at dips around 1.3200 with SL around 1.3150 for the TP of 1.3295/1.3350