FxWirePro: USD/CAD maintains bullish outlook with focus on 1.3300 levels

The USD/CAD pair continued to gain from its Yesterdays close, as the Canadian dollar lost further ground against US dollar on Thursday. Crude oil prices declined below 40$ per barrel on track to their first weekly loss in over a month pressured by record high US stockpiles.

• The currency pair is trading around 1.3247 levels, it is expected to reach 1.3300 levels and 1.3350 levels in the short term.
• The immediate support can be seen at 1.3221, break below this level will expose the pair to next support level at 1.3176.
• Major resistance can be seen at 1.3265, break above this level will expose it towards 1.3318 and beyond.

Resistance Levels

• R1: 1.3265 (38.2% Retracement level)
• R2: 1.3318 (38.2% Retracement level)
• R3: 1.3365 (March 16th low)

Support Levels

• S1: 1.3221 (50% Retracement level)        
• S2: 1.3176 (61.8% Retracement level)
• S3: 1.3110 (March 23rd lows)