USD/CAD has recovered mildly till 1.23789 yesterday and shown a minor decline from that level. The pair jumped till 1.23099 at the time of writing and is currently trading around 1.23234. NAFTA talks are going on positiv…
USD/CAD has recovered mildly till 1.23789 yesterday and shown a minor decline from that level. The pair jumped till 1.23099 at the time of writing and is currently trading around 1.23234.
NAFTA talks are going on positive after sixth round of talks happened in Monreal but progress is still slow said by US trade Representative Robert Lighthizer.
US oil formed a temporary top almost a double top around $66.63 and started to decline from that level. The main reason for decline in oil price was slight recovery in US dollar. The commodity declined till $64.64 at the time of writing.
Technically, major short term support is around 1.2280 and any break below will drag the pair till 1.2200.
On the higher side, near term major resistance is around 1.2435 and any break above will take the pair to next level till 1.2480/1.2530. Minor bullishness only above 1.2600.
It is good to sell on rallies around 1.2405-41 with SL around 1.2465 for the TP of 1.2280/1.2200
