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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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December 15 21:00 UTC Released

USOverall Net Capital Flows

Actual

151.2 Bln USD

Forecast

Previous

-51.3 Bln USD

December 15 21:00 UTC Released

USNet L-T Flows,Incl.Swaps

Actual

7.9 Bln USD

Forecast

Previous

65.1 Bln USD

January 9 11:00 UTC 3409734097m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3409734097m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409734097m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409734097m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

January 9 11:00 UTC 3409734097m

BRRetail Sales MM*

Actual

Forecast

0.35 %

Previous

January 9 11:00 UTC 3409734097m

BRRetail Sales YY*

Actual

Forecast

3.20 %

Previous

December 12 09:30 UTC 63146314m

GBRPIX YY

Actual

Forecast

Previous

4.2 %

December 12 09:30 UTC 63146314m

GBPPI Input Prices MM NSA

Actual

Forecast

Previous

1 %

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