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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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Fintech Week Chicago

April 26 01:30 UTC Released

AUCPI Index Number*

Actual

110.5 %

Forecast

Previous

110.0 %

April 26 01:30 UTC Released

AURBA Weightd Medn CPI YY*

Actual

1.7 %

Forecast

1.8 %

Previous

1.5 %

April 26 03:30 UTC 9090m

IDFDI Growth YY*

Actual

Forecast

Previous

2.10 %

April 26 03:30 UTC 9090m

IDFDI Growth YY*

Actual

Forecast

Previous

2.10 %

April 26 06:45 UTC 285285m

FRCPI Index Number*

Actual

Forecast

100 %

Previous

100 %

April 26 06:45 UTC 285285m

ZAPPI YY*

Actual

Forecast

100 %

Previous

100 %

April 26 06:45 UTC 285285m

ZAPPI MM*

Actual

Forecast

100 %

Previous

100 %

April 26 08:30 UTC 390390m

TRO/N Lending Rate*

Actual

Forecast

Previous

5.60 %

April 26 08:30 UTC 390390m

TRPPI YY*

Actual

Forecast

Previous

5.60 %

April 26 09:30 UTC 450450m

ZAPPI MM*

Actual

Forecast

Previous

0.60 %

Fintech Week Chicago
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