USD/CAD has once again recovered after showing a minor decline yesterday. US jobless claims declined sharply to 206000 compared to forecast of 226000 and US CPI came flat compared to previous month of 0.3% and annualized CPI came at 2.2% from 2.5%. The only factor which was supporting Canadian dollar was slight easing of trade tensions between US and China .The slightly dovish BOC and weak oi prices are putting pressure on C$. The pair hits intraday high of 1.34014 and currently trading around 1.33822.
Brent crude oil price has jumped nearly $2 trading steady after hitting low of $57.53. US EIA crude oil inventory came at -1.2 M compared to forecast of -3.0 M and previous week is at -7.3 million.It has jumped till $63.67 and is currently trading around $59.94.
On the lower side, near term major support is around 1.3320 and any break below will drag the pair till 1.3250/1.3160.
The pair is facing major resistance around 1.3450 and any break above targets 1.3500/1.3585 is possible.
It is good to buy on dips around 1.3300 with SL around 1.3250 for the TP of 1.3500.


FxWirePro: USD/CAD pauses decline,critical support lies ahead
FxWirePro: NZD/USD weakens as RBNZ quashes rate hike talk
FxWirePro: USD/CAD recovers slightly but trend is still bearish
Yen Strikes Back: AUD/JPY Retreats as BOJ Policy Looms – Sell on Rallies to 100
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/ZAR neutral in the near-term, scope for downward resumption
FxWirePro: USD/CNY outlook weaker on renewed downside pressure
FxWirePro: EUR/CAD gaining momentum for a move towards 1.6250 level
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Woodies Pivot(Major)
EUR/JPY Retreats: Yen Strength Caps Rally, Bearish Bias Intact Below 183.15
FxWirePro: EUR/AUD trends higher, but faces potential pitfalls
FxWirePro: GBP/NZD ticks down after UK GDP data disappoints
CAD/JPY Dips on Soft Canadian CPI: Buy the Dip to 115?
FxWirePro: USD/ZAR attracts selling interest, could be on verge of a bigger drop 



