• USD/CAD eased slightly as investors awaited domestic gross domestic product data due this week.
• Economists expect fourth-quarter GDP, due Friday, to show flat growth, in line with the Bank of Canada’s January projection when it kept the benchmark rate unchanged at 2.25%.
• U.S.-Canada trade tensions have intensified in recent months. The United States-Mexico-Canada Agreement, which protects much of Canada’s exports from U.S. tariffs, is due for review ahead of the July 1 deadline.
• The price of oil one of Canada's major exports, fell 0.1% to $65.57 a barrel as a much larger-than-expected U.S. crude stock build offset a potential military conflict between the U.S. and Iran.
• Immediate resistance is located at 1.3718(50%fib), any close above will push the pair towards 1.3755(Higher BB).
• Support is seen at 1.3644 (SMA 20) and break below could take the pair towards 1.3623(61.8%fib).
Recommendation: Good to buy around 1.3670, with stop loss of 1.3600 and target price of 1.3750
