Menu

Search

  |   Technicals

Menu

  |   Technicals

Search

FxWirePro: USD/CAD trades higher on broad based USD buying and weak crude oil prices, good to buy on dips

USD/CAD is trading steady on account of broad based USD buying and weak oil prices. The pair hits high of 1.31265 yesterday and started to decline slightly. Short term trend is bullish as long as support 1.30750 holds.

 

Canadian whole sale trade came at 0.1% in August compared to forecast of 0.2%. Canada CPI and retail sales data released on Friday came slightly weaker than expected. Markets eye BOC rate decision to be happened tomorrow for further direction.

 

Crude oil prices has dropped more than 2% on news of Saudi will increase output by 11 million b/d.Markets eye US crude oil inventory for further direction. WTI crude has declined till $67.96 and is currently trading around $68.

 

On the higher side, major resistance is around 1.3130 and any break above targets 1.3175/1.32450.

 

The near term major support is around 1.3075 and any violation below targets 1.3000/1.2935.

 

It is good to buy on dips around 1.3085-90 with SL around1.3045 for the TP of 1.3245.

  • ET PRO
  • Market Data

Market-moving news and views, 24 hours a day >

2019-03-26 16:35:44
0m
2019-03-26 16:33:44
0m
2019-03-26 16:33:17
0m
2019-03-26 16:32:44
0m

March 26 14:30 UTC Released

USTexas Serv Sect Outlook

Actual

-4.4 bln

Forecast

Previous

2 bln

March 26 14:30 UTC Released

USDallas Fed Services Revenues

Actual

12.8 %

Forecast

Previous

19.2 %

January 31 00:00 UTC 604380604380m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604380604380m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 616200616200m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 604380604380m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 22 19:00 UTC 616200616200m

ARTrade Balance

Actual

Forecast

Previous

-1541 %

January 31 00:00 UTC 604380604380m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604380604380m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 604380604380m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

Close

Welcome to EconoTimes

Sign up for daily updates for the most important
stories unfolding in the global economy.