• USD/CAD has shown a minor weakness after hitting high of 1.3380 on account of slight bullishness in crude oil prices. But the pair hits low of 1.2605 and shown a minor rebound after weaker than expected Canada retail sales data. Canadian retail sales data has declined by 1.2% in Apr, the largest drop in 2 years and inflation came at 2.2% for the month of May well below forecast of 2.6%. The weak economic data will reduce the chance of rate hike by BOC in the near term. Trade war fears and delay of NAFTA are the main issues dragging Canadian dollar. It is currently trading around 1.3295.
   
• WTI Crude oil prices has shown a huge recovery from the low of $64.49 after OPEC meeting . OPEC has announced that ouput is set to increase by 1MMbbls/d. It hits high of $69.52 and is currently trading around $68.85.
   
• Technically near term resistance is around 1.3380 and any convincing break above targets 1.3400/1.3500.
   
• On the lower side, near term support is around 1.3250 and any convincing break below will drag the pair down till 1.3199 (7- day MA)/1.3130.
  
  It is good to buy on dips around 1.3255-60 with SL around 1.31990 for the TP of 1.3350/1.3400.