FxWirePro: USD/CAD consolidating around 1.3098, bias is bullish
The USD/CAD pair rose on Friday as oil dipped and the dollar recovered some ground as disquiet about the policies of U.S. President Donald Trump cooled. Prices of oil, one of Canada's major exports, were pressured by gro…
The USD/CAD pair rose on Friday as oil dipped and the dollar recovered some ground as disquiet about the policies of U.S. President Donald Trump cooled.
Prices of oil, one of Canada's major exports, were pressured by growing global stocks. U.S. crude prices were down 0.49 percent at $53.10 a barrel.
Short dip around 1.3000 should be viewed as buying opportunities, as the Canadian dollar is weaker against the US dollar in intraday trading.
Immediate support can be seen at 1.2964, break below this level will expose the pair to next support level at 1.2900.
Immediate resistance can be seen at 1.3098, break above this level will expose the pair towards 1.3158 levels.
