FxWirePro: NZD/USD retains bearish bias, upbeat New Zealand trade surplus data fails to impress Kiwi bulls
FxWirePro: USDCAD recovers on the upbeat US retails sales, good to buy on dips
Ichimoku analysis (1 Hour chart)
USDCAD has recovered more than 50 pips after better than upbeat US retail sales data. It rose for 3rd straight month with Core sales at 1.9% compared to a forecast of 1.2%. It hits an intraday low of 1.32063 and currently trading around 1.32487.
WTI crude oil has formed a double top around $43 and started to decline from that level. Any break below $41.50 confirms bearish continuation and a dip till $40.50/$39 likely.
Technically, the pair faces near term support at 1.3190. Any violation below targets 1.3160/1.3100. The near term resistance is at 1.32750, an indicative break beyond will take to the next level till 1.3335/1.3380.
It is good to buy on dips around 1.3235-38 with SL around 1.3200 for the TP of 1.3350.