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USDCAD trades slightly lower after hitting fresh one month high at 1.35650 on Friday. Canada’s economy grew at annualized rate 0.4% in the first quarter weakest back to back quarters of growth since 2015. Oil was trading lower and lost more than 10% in previous week. The dip was mainly due to trade war and rise in crude oil inventory.The pair hits It is currently trading around 1.35087.
On the higher side, near term resistance is around 1.3565 and any violation above will take the pair till 1.3585/1.36060/1.36648.
The near term support is around 1.3480 and any indicative break below will take the pair till 1.3430/1.3350.
It is good to buy on dips around 1.3475-80 with SL around 1.3430 for the TP of 1.3605/1.3660.
