USDCAD is showing a minor weakness after a jump to 1.4100 levels. The pair lost more than 800 pips in past one month on broad-based US dollar selling. But the downside is capped due to huge sell-off in crude oil price. WTI crude oil hits $15 for the first time for 15 years due to Coronavirus. The spread of COVID 19 might reduce the demand for the crude oil price.
Technically, near term support is around 1.4000 and any violation below will drag the pair down till 1.3925/1.3850.
The immediate resistance is at 1.41050 and any indicative break above targets 1.4185/1.4260.
It is good to sell on rallies around 1.4078-80 with SL around 1.4155 for the TP of 1.4000.
