FxWirePro: USD/CAD maintains bullish bias with focus on 1.3150
USD/CAD initially inched higher after the release of US ADP Employment data in the early US session, but the commodity related currency pair declined after a larger-than-expected gasoline draw offset a surprise build in …
USD/CAD initially inched higher after the release of US ADP Employment data in the early US session, but the commodity related currency pair declined after a larger-than-expected gasoline draw offset a surprise build in crude stockpiles.
U.S. crude inventories rose for a second week in row, gaining 1.4 million barrels last week, compared with analysts' expectations for a decrease of 1.4 million barrels.
The pair remains in bullish territory unless until it trades above 1.2985 levels, therefore its good buy this pair around 1.3000 levels.
The immediate support can be seen at 1.3060, break below this level will expose the pair to next support level at 1.3024.
Major resistance can be seen at 1.3147, break above this level will expose it towards 1.3200 levels.
