Chart pattern - Double Bottom
USDCAD has shown a minor jump of more than 50 pips from the low of 1.28843. It has formed almost a double bottom at 1.2880 and any further weakness only below that level.
On the higher side, near term resistance is around 1.29558 and any break above will take the pair to next level till 1.2980 (55- 4H EMA)/1.3000/1.30154 (Sep 19th high).
Oil prices jumped sharply almost 2% till $72 on Iran sanctions and global oil supply. It is trading above $72 and a jump till 74 is likely. The sudden jump in oil price is supporting Canadian dollar.
The near term major support is around 1.2880 and any break below will drag the pair down till 1.2845/1.2800.
It is good to buy on dips around 1.2930-325 with SL around 1.2880 for the TP of 1.2980/1.3015.


Forex Scorecard: EUR/USD, GBP/USD, and NZD/USD Stand Out as Prime Bullish Opportunities
FxWirePro: USD/ZAR gains as stronger dollar outweighs upbeat South Africa's trade surplus
Gold Retreats as Geopolitical Fears Ease: Bears Target $4,000 Support
All Major JPY Pairs Hit Extreme Bearish Score of -100: USDJPY, EURJPY, GBPJPY, AUDJPY, NZDJPY & CADJPY Flash Maximum Weakness
FxWirePro: USD/JPY dips as market assess risk of additional FX intervention.
FxWirePro- Major Pair levels and bias summary
FxWirePro: USD/CAD retreats after Canada posts stronger-than-expected GDP growth
FxWirePro- Major Crypto levels and bias summary
FxWirePro- Major Crypto levels and bias summary
FxWirePro: GBP/NZD downside pressure builds, key support level in focus
FxWirePro: EUR/ AUD dips below 1.6400 level, focus on near term support
FxWirePro: NZD/USD turns lower as USD regains footing
FxWirePro- Woodies pivot (Major)
FxWirePro: GBP/USD slips as dollar rebounds from six-week low
FxWirePro: AUD/USD firms after upbeat consumer spending data
FxWirePro: GBP/NZD remains weak, eyes 38.2%fib support 



