As per our analysis USDCAD has shown a good recovery of more than 150 pips from low of 1.27800. The pair was trading weak for more than 10 days as new NAFATA deal and rising crude oil supported Canadian dollar.
The pair recovered slightly on account of broad based US dollar buying for past two days. The US 10 year yield hits multiyear high at 3.23%.
Crude oil has declined more than $2 from high of $76.88 made on Oct 3rd 2018 as Saudi and Russia quietly agree output rise. The near term support is around $73.38 (10- day MA) and any break below targets $71.35/$70.19.
On the higher side, near term major resistance is around 1.2945 and any break above will take the pair to next level till 1.3000/1.3054 (100- day MA). It should break convincingly above 1.3000 for further jump.
The near term support is around 1.2860 and any violation below targets 1.2800/1.2780. Any break below 1.27800 confirms bullish continuation.
It is good to buy on dips around 1.2870 with SL around 1.2800 for the TP of 1.3045.


Peace Dividend Powers NZDJPY Past 93.50 — Bulls Set Sights on 96.15 Target
FxWirePro: USD/JPY gains above 160 level ahead of BOJ policy meeting
FxWirePro: NZD/USD jumps after US and Iran agree preliminary deal
FxWirePro- Major Pair levels and bias summary
Sell the Bounce: NZDJPY Bearish Bias Persists Below 94.20, Eyes 90.50
FxWirePro: USD/CAD steadies around 1.3990 ,retains bid one
FxWirePro: EUR/AUD loses upside momentum but outlook is bullish
Geopolitical Easing Fuels AUDJPY Rally Toward 115 — Buy Dips at 113
Relief Rally Extends to 112.75, but AUDJPY EMA Structure Favors Selling
FxWirePro: USD/ZAR edges higher, set to stay on back foot
FxWirePro: GBP/USD range-bound as Iran uncertainty keeps traders cautious
FxWirePro: GBP/NZD stuck in range but outlook is bullish
Ethereum Cracks Under $1,700: Sell the Rally Near $1,750 as Bears Eye $1,380–$1,200 



