FxWirePro: USD/CAD maintains bullish bias with focus on 1.2800 levels

• The USD/CAD pair firmed on Tuesday as loonie was pressured by lower oil prices and broader gains for the greenback, as North Korea tensions eased and data showed a jump in U.S. retail sales.
   
• The U.S. dollar climbed against a basket of major currencies after North Korea's leader delayed a decision on firing missiles towards Guam. Also aiding the greenback, U.S. retail sales recorded their biggest increase in seven months in July.
   
• Oil prices extended a heavy sell-off, weighed down by a stronger U.S. dollar and signs of weaker demand in China.
   
• The pair remains under bulls control unless until it trades above 1.2661 support level, therefore it is good to buy this pair on dips.
   
• To the upside, the strong resistance can be seen at 1.2771, a break above will take the pair towards next resistance level at 1.2800.
   
• To the downside immediate support can be seen at 1.2717 levels, a break below will open the door towards next level at 1.2661.
  
  Resistance Levels
  
  R1: 1.2771 (38.2% Retracement level)
  
  R2: 1.2800 (Psychological levels)
  
  R3: 1.2843 (23.6% Retracement level)
  
  Support Levels
  
  S1: 1.2717 (50% Retracement level)
  
  S2: 1.2661 (61.8% Retracement level)
  
  S3: 1.2625 (Aug 8th lows)

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