Intraday bias - Bearish
USDCAD is trading weak for the fourth consecutive day on board-based US dollar selling. The Canadian dollar performed well against all majors after a surprise 100 bpbs hawkish rate hike by the Bank of Canada. Technically in the 4 -Hour chart, the pair is holding below the short-term ( 21- EMA), 55- EMA, and above the long-term moving average of 200 EMA (1.29178). Any close below 1.2850 confirms the intraday bearish trend. A dip to 1.2800/1.2740 is possible. USDCAD hits a low of 1.28554 and is currently trading around 1.28650.
WTI crude oil price shown a gap down opening on recession worries. Any break below $98.20 confirms further bearishness.
The near-term resistance is around 1.2900, any breach above targets 1.2928/1.2965/1.3000.
Indicators (4 Hour chart)
CCI (50)- Bearish
ADX- Bearish
It is good to sell on rallies around 1.2900 with SL around 1.2950 for TP of 1.2800.


FxWirePro: GBP/AUD bears maintain upper hand
NZDJPY Action Bias: Bullish Dip-Buying Opportunity on Broad Yen Weakness
JPY Action Bias: Bullish Pairs to Watch Out For
FxWirePro: EUR/NZD firms after ECB holds rates steady at 2.25%
NZDJPY Bullish Dip-Buy Setup: 93.60 Support Unlocks Path to 97
FxWirePro- Major Pair levels and bias summary
AUDJPY Extends Four-Day Rally on Yen Weakness: Bullish Dip-Buy Eyes 117-118
Major Pair Action Bias: Bullish Pairs to Watch Out For
BTC, ETH, SOL, XRP, and BNB: Major Crypto Pairs Stay Neutral
FxWirePro: GBP/NZD gains some ground but outlook is bearish
FxWirePro: USD/CAD positions for another climb, eyes 1.4150 level
JPY Action Bias: USDJPY, EURJPY, and CADJPY Emerge as Top Extremely Bullish Picks
FxWirePro: AUD/USD uptrend loses steam, remains on bearish path
FxWirePro: GBP/NZD downside pressure builds, key support levels in focus
FxWirePro:USD/JPY hovers near a four-decade low
FxWirePro: USD/CNY edges higher but bulls lack punch
FxWirePro: AUD/USD gains on Iran-US truce hopes, risk rally 



