USDCAD is consolidating in narrow range for past 10 trading days. The pair has formed minor bottom around 1.3180 and shown a minor recovery. Loonie was best performing currency in year 2018 and jumped more than 8% on account of easing crude oil price and dovish BOC. The pair has broken 1.3300 and jumped till 1.33428. It is currently trading around 1.33282.
Crude oi prices has lost nearly 2% for the day after more than 25% jump from bottom of $50.05. The decline was mainly due to global economy outlook and weak Chinese data. IMF has cut its global growth estimate by 3.5% from 3.7% for the year 2019.It is currently trading around $61.59.
On the higher side near term resistance is around 1.3400 (20- day MA) and any break above targets 1.3485/1.3500.
The near term support is around 1.3260 and any break below targets 1.3200/1.31800 (100-day MA). Any violation below 1.3180 confirms further bullishness.
It is good to buy on dips around 1.3300 with SL around 1.3250 for the TP of 1.3400.


FxWirePro: USD/CNY dips to hit three year low,scope for further downside
FxWirePro: USD/JPY dips as market assess risk of additional FX intervention.
FxWirePro- Woodies pivot (Major)
FxWirePro: AUD/USD cedes early gains ,outlook bearish
FxWirePro- Major Crypto levels and bias summary
Nikkei Surges Past 65,000 on Suspected Yen Weakness: Tech Giants Like Advantest and NEC Lead Explosive Gains
FxWirePro- Major Pair levels and bias summary
FxWirePro: AUD/USD gains some ground but outlook is bearish
FxWirePro: GBP/AUD bears maintain upper hand
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
AUDJPY Volatile After Massive Sell-Off: Sell Rallies at 113, Targeting 110 as Bearish Momentum Surges
FxWirePro- Major Pair levels and bias summary
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
FxWirePro: NZD/USD consolidates overnight gains, but loses momentum 



