Intraday bias - Bullish
USDCAD regained above 1.2900 on board-based US dollar buying. US dollar index gained sharply despite weak US GDP data. It shrinks by 1.6% in the first quarter of 2022 compared to a forecast of -1.5%. Markets eye the US PCE price index and personal income for further direction. The minor sell-off in oil prices also pushes the pair further higher. Technically in the 4 -Hour chart, the pair is holding below the short-term (55 EMA), above 21- EMA, and above the long-term moving average of 200 EMA (1.28296). Any violation below 1.2860 confirms a bearish continuation. A dip to 1.2820/1.2778/1.2700 is possible. USDCAD hits an intraday high of 1.29185 and is currently trading around 1.29088.
The near-term resistance is around 1.2920, any breach above targets 1.2955/1.3000/ 1.3080.
Indicators (4 Hour chart)
CCI (50)- Bearish
ADX- Neutral
It is good to buy on dips around 1.2880 with SL around 1.2820 for TP of 1.3000.


FxWirePro: GBP/NZD remains bullish as rally continues
FxWirePro- Major Pair levels and bias summary
BTC/USD Coils Ahead of CPI & BOJ: Buy Dips at $85K Targeting $100K Breakout
FxWirePro: EUR/NZD edges lower but bullish outlook persists
FxWirePro- Major Crypto levels and bias summary
FxWirePro: EUR/AUD uptrend loses steam, remains on bullish path
FxWirePro- Woodies Pivot(Major)
FxWirePro-Major European Indices
FxWirePro: USD/CAD recovers slightly but trend is still bearish
FxWirePro: NZD/USD sidelined ahead Of key New Zealand GDP and US inflation update
ETH/USD Clings Below $3000 in BTC's Shadow: Buy Deep Dips at $2700 Targeting $4000 Breakout
FxWirePro: GBP/AUD maintains bullish bias with focus on 2.0300 level
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro- Woodies Pivot(Major)
FxWirePro:USD/JPY neutral in the near-term, scope for downward resumption
FxWirePro: USD/ZAR extends losses as dollar drops after delayed U.S. data 



