FxWirePro: USD/CAD set to close in the red for a 3rd consecutive week

CAD supported by rise in oil prices, while USD stronger across the board on Thursdays' upbeat data.

• Crude oil futures rose on Friday to snap a week-long decline as investors bet falling U.S. production would cut a global surplus
   
• Oil markets were also supported as Asian shares got a bright start on Friday, catching some of Wall Street's shine after upbeat U.S. price and jobless claims data 
   
• USD/CAD has been confined to a narrow range on the day, with the day's high at 1.2882 and lows at 1.2848 
   
• Price action has dipped below the cloud, strong resistance seen at 1.2913 (converged cloud base and 100 DMA)
   
• The pair is on track to extend losses for a 3rd consecutive week, drop till 1.2687 (monthly  Tenkan & weekly Kijun ) likely on breaks below 1.2830
   

Recommendation: Good to sell rallies around 1.2910, SL: 1.2950, TP: 1.2840