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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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June 23 14:30 UTC Released

USECRI Weekly Annualized*

Actual

3.4 %

Forecast

Previous

3.7 %

June 23 14:30 UTC Released

USECRI Weekly Index*

Actual

143.7 %

Forecast

Previous

144.0 %

June 26 08:00 UTC 580580m

GBIfo Expectations*

Actual

Forecast

Previous

106.5 k

June 26 08:00 UTC 580580m

DEIfo Business Climate*

Actual

Forecast

114.4 bln BRL

Previous

114.6 bln BRL

June 26 08:00 UTC 580580m

DEIfo Expectations*

Actual

Forecast

106.4 %

Previous

106.5 %

June 26 08:00 UTC 580580m

DEIfo Current Conditions*

Actual

Forecast

123.3 mln

Previous

123.2 mln

June 26 08:30 UTC 610610m

GBIfo Expectations*

Actual

Forecast

Previous

40.750 k

June 26 08:30 UTC 610610m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

40.750 k

June 26 11:00 UTC 760760m

BRBBA Mortgage Approvals

Actual

Forecast

Previous

84.2 k

June 26 11:00 UTC 760760m

RUFGV Consumer Conf*

Actual

Forecast

Previous

84.2 %

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