The weekly and daily USD/CAD chart show the support (Oct 09, Jan 09) - former resistance (2008) - at 1.0250. See Chaty below.
The pair is currently trading at this level. A breakthrough would open up a further decline to parity. However, the support has been tested twice during the last 6 months and was holding up.
Therefore I would favour a long trade with an attractive Risk-Reward-Ratio:
- Price: 1.0250
- SL: 1.0100
- TP: first target 1.0550 (possible up to 1.07)
USD/CAD, weekly
USD/CAD, daily
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