• Loonie formed a minor top around 1.35349 on Apr 9th 2017 and declined sharply from that level. It is currently trading around 1.33193.
   
• Canadian dollar is trading slightly higher against all major pairs on account of rising housing starts and higher oil prices.


• Canadian housing starts surged to the fastest pace in a decade and it has soared 18% to an annualized 253720 units in Mar from 21253 units in Feb.
   
• WTI crude has been continuously increasing for the past two weeks from the low of $47. The commodity broken major resistance of $50 and jumped till $53.21.
   
• On the lower side 1.3260 will be acting as near term support , and any break below  will drag the pair till 1.3210 (200 –day MA) /1.3180 (61.8% retracement of 1.29684 and 1.3538).
   
• The near term resistance is around 1.3380 and any break above targets 1.34332 (61.8% retracement of 1.3538 and 1.32635)/1.34800/1.3535 (Mar 9th 2017 high).
  
  It is good to buy on dips around 1.3260 with SL around 1.3200 for the TP of 1.3380/1.3500.