- USD/CAD bullish momentum continues and broken major resistance 1.2642 (61.8% retracement of 1.27708 and 1.24138). The pair jumped till 1.26827 at the time of writing on account of slight weakness in crude oil prices.
- US crude oil prices has formed a minor top around $50.38 and slightly declining from that level. Major support is around $47.89 (Jun 26th low) and any minor weakness can be seen below that level.
- Lonnie is trading slightly above 21- day EMA at 1.2658 and any break above confirms min or bullishness , a jump till 1.2770 (38.2% retracement ) likely.
- On the lower side, any break below 1.2620 confirms intraday weakness, a decline till 1.2550 /1.2527 (10- day MA) is possible.
It is good to buy on dips around 1.26500 with SL around 1.2620 for the TP of 1.2740/1.27780.
