USD/CAD declined more than 150 pips from high of 1.33750 in previous week. The decline was mainly due to jump in oil price and broad based US dollar selling . The pair hits low of 1.3203 and is currently trading around 1.32168.
The economic data which was released this month was mixed with Canada’s inflation came at 2% YOY compared to forecast of 1.7% highest level in years. But retail sales data fell more than expected -0.9% vs -0.6% forecast.
Crude oil prices are holding higher slightly above $60 as political turmoil in Venezuela threatened to tighten oil supply.
On the higher side near term resistance is around 1.3245 and any break above targets 1.3300/1.3380.
The near term support is around 1.3190 and any break below targets 1.3150/1.3090.
It is good to sell on rallies around 1.3265-70 with SL around 1.3305 for the TP of 1.3090/1.3000
Resistance
R1- 1.3245
R2 - 1.3300
R3- 1.3380
Support
S1- 1.3195
S2- 1.3130
S3- 1.3090


FxWirePro: GBP/USD rises as soft US data pressures dollar
FxWirePro: GBP/AUD drifts lower after BOE rate decision
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
JPY Currency Meter Signals: NZDJPY Bullish (+25) vs CHFJPY (-100) – These Pairs Could Move Next
US Magnificent 7 Stocks Trend Score: Amazon & Microsoft Hit Extreme Bullish (+100) as Meta Drops to -100 — Key Resistance & Support Watchlist
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
FxWirePro- Major Crypto levels and bias summary
Major European Indices Score Extremely Bullish: DAX Eyes 26000, CAC Targets 8600, FTSE100 at 11000 – Key Levels to Watch
FxWirePro: AUD/USD gains some ground but outlook is bearish
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro:USD/JPY climbs back above 160.00 after BOJ rate decision
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
FxWirePro- Major Pair levels and bias summary
NZDJPY Retreats on Yen Strength – Bearish Setup Targets 90 After Hitting 92.75 Low 



