• Loonie was offered some respite after oil prices rebounded sharply today, pushing USD/CAD lower
  
  
• USD/CAD eased off from 11-yr highs by 1.3176 today, is currently trading at 1.3117, day's range 1.3176/1.3104
  
  
• Stochs show bearish crossover at overbought levels, RSI at overbought some unwinding in the near term likely
  
  
• Bullish alignment of the tenkan & kijun lines highlights scope for more gains
  
  
• Markets await upcoming US macro releases including the US factory orders data due to be reported later in the day for further direction
  
  

Resistance Levels:

R3: 1.3279 (30-Day Upper Bollinger)

R2: 1.3200 (Psychological Level)

R1: 1.3176 (2015 High Aug 4)

Support Levels:

S1: 1.3106 (Session Low Aug 4)

S2: 1.3081 (Daily Low Aug 3)

S3: 1.3018 (Tenkan-Sen)