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USDCAD recovers sharply from low of 1.3277 made on Apr 17th 2019 amid rising oil price. US dollar index was trading higher in past 1-week on account of strong US economic data. It hits high of 1.33996 and is currently trading around 1.33643.
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On the lower side, near term support is around 1.3359 (20- day MA) and any break below will drag the pair to next level till 1.3320/1.32744.Any break below 1.32685 will take the pair to next level till 1.3230/1.3200.
The near term resistance is around 1.3403 and any break above targets 1.3450/1.34680.
It is good to buy on dips around 1.3320 with SL around 1.3275 for the TP of 1.34675.
