• USD/CAD fell towards1.3500 level on Tuesday as weaker greenback and China's monetary stimulus boosted commodity lined currencies like Canadian dollar
• Oil prices jumped more than 2% on supply concerns from the Middle East conflict and fears of another hurricane threatening U.S. output, along with stimulus from China.
• By 15:51GMT, the dollar was down 0.53% against the Canadian dollar to 1.3471.
• Technical signals are bearish as RSI is at 39, daily momentum studies 5, 9 and 10 DMAs are trending down.
• Immediate resistance is located at 1.3537 (Daily high), any close above will push the pair towards 1.3565 (38.2%fib).
• Support is seen at 1.3499(23.6%fib) and break below could take the pair towards 1.3465(Lower BB).
Recommendation: Good to sell around 1.3520, with stop loss of 1.3600 and target price of 1.3430
