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FxWirePro: USD/CAD consolidating around 1.3098, bias is bullish

  • The USD/CAD pair rose on Friday as oil dipped and the dollar recovered some ground as disquiet about the policies of U.S. President Donald Trump cooled.
     
  • Prices of oil, one of Canada's major exports, were pressured by growing global stocks. U.S. crude prices were down 0.49 percent at $53.10 a barrel.
     
  • Short dip around 1.3000 should be viewed as buying opportunities, as the Canadian dollar is weaker against the US dollar in intraday trading.
     
  • Immediate support can be seen at 1.2964, break below this level will expose the pair to next support level at 1.2900.
     
  • Immediate resistance can be seen at 1.3098, break above this level will expose the pair towards 1.3158 levels.

    Resistance Levels

    R1: 1.3098 (38.2% Retracement level)

    R2: 1.3158 (2nd Feb high)

    R3: 1.3181 (23.6% Retracement level)

    Support Levels

    S1: 1.3030 (50% Retracement level)        

    S2: 1.3000 (Psychological levels)

    S3: 1.2964 (61.8% Retracement level)
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May 22 14:30 UTC Released

TRCentral Govt Debt Stock*

Actual

794.5 bln TRY

Forecast

Previous

793.3 bln TRY

May 22 13:00 UTC Released

RUUnemployment Rate*

Actual

5.3 %

Forecast

Previous

5.4 %

May 23 00:00 UTC 288288m

ARTrade Balance*

Actual

Forecast

Previous

-941 mln $

May 23 00:30 UTC 318318m

JPNikkei Mfg PMI

Actual

Forecast

Previous

52.7 bln TRY

May 23 06:00 UTC 648648m

DEGDP Detailed QQ

Actual

Forecast

0.6 %

Previous

0.6 %

May 23 06:00 UTC 648648m

DEGDP Detailed YY

Actual

Forecast

1.7 %

Previous

1.7 %

May 23 06:45 UTC 693693m

FRBusiness Climate

Actual

Forecast

108 bln BRL

Previous

108 bln BRL

May 23 07:00 UTC 708708m

FRMarkit Mfg Flash PMI

Actual

Forecast

55.2 %

Previous

55.1 %

May 23 07:00 UTC 708708m

FRMarkit Comp Flash PMI

Actual

Forecast

56.7 %

Previous

56.6 %

May 23 07:00 UTC 708708m

FRMarkit Serv Flash PMI

Actual

Forecast

56.5 %

Previous

56.7 %

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