Canadian dollar has once again gained after showing a minor jump above 1.3500. It is currently trading around 1.34366. Crude oil prices shown a minor recovery from the low of $45.24 after supporting comments from Russian…
Canadian dollar has once again gained after showing a minor jump above 1.3500. It is currently trading around 1.34366.
Crude oil prices shown a minor recovery from the low of $45.24 after supporting comments from Russian and Saudi energy ministers at the weekend from Kazakhstan. Crude oil prices recovered till $46.56 and is currently trading around $46.33.
USD/CAD is facing strong resistance around 1.3540 (Jun 2nd 2017 high) and any break above will take the pair till 1.35920 (50% retracement of 1.37935 and 1.3404)/1.3670 (May 18th 2017 high).
On the lower side, near major support is around 1.3380 (May 25th 2017) and any break below confirms minor weakness and a dip till 1.32230 (Apr 13th high).
It is good to sell on rallies around 1.3460/1.3465 with SL around 1.35450 for the TP of 1.3380/1.3223.
