• USD/CAD is trading weak for past 1 week and it has lost almost 300 pips from the high of 1.33861 high  made on Jun 27th 2018. The better than expected Canadian economic data and strong crude oil prices are supporting Canadian dollar. The pair hits low of 1.30689 and is currently trading around 1.30757.
• Canadian economy has added a net 31800 jobs in June compared to forecast of 20000 and wage growth also continue to advance at a strong pace. The strong jobs data will increase the chance of rate hike by BOC in the coming months.
   
• WTI crude is trading steady after hitting high of $75.36. The increase in the US drilling activity might increase shale gas production. The number of rigs drilling for oil up by 5 to 863 up 100 year-on-year. It is currently trading around $73.91.
   
• On the lower side, near term support is around 1.30200 (55- day EMA) and any violation below targets 1.3000/1.2955/1.2900.
   
• The near term resistance is around 1.3125 and any break above will take the pair to next level till 1.3185/1.3225/1.3300.
  
  It is good to sell on rallies around 1.3135-40 with SL around 1.3200 for the TP of 1.3000/1.2900.