USDCAD has broken major resistance 1.3350 after long consolidation for the past 17 trading days. The pair declined till 1.32490 on Friday after better than expected Canadian GDP data It has expanded at 3.7% strongest quarterly since 2017. US-China trade war escalation is supporting the prices of the US dollar. The pair hits an intraday high of 1.33671 and is currently trading around 1.33642.
On the flip side near term, support is around 1.3330 and any violation below will drag the pair to the next level till 1.3240/1.3180. Any major weakness only below 1.3180 and break below targets 1.3140/1.3090.
The pair is trading slightly above 1.3350 and this confirms minor trend reversal, a jump till 1.3435/1.350 is possible.
It is good to buy on dips around 1.3350 with SL around 1.3300 for the TP of 1.3445.
