Ichimoku analysis (Daily Chart)
Tenken-Sen- 1.30965
Kijun-Sen- 1.30788
USDCAD is trading weak on upbeat Canadian employment. It has declined by 79500 in October slightly better than -564000 jobs the previous month. The number of people who applied for unemployment benefits rose by 31000to 742000 vs an estimate of 707k.DXY is facing strong resistance at 200-H MA, any hourly close above targets 93/93.20. Loonie hits an intraday low of 1.30697 and currently trading around 1.30781.
WTI crude oil is trading flat amid a marginal surge in Crude inventory. It increased by 0.8 million barrels vs forecast of 1.7 million. Short term trend is bullish as long as support $40 holds.
Technically, the pair faces near term resistance at 1.3125. Any violation above targets 1.3170/1.3200. The near term support is around 1.3060; an indicative break below will take to the next level till 1.3000.
It is good to sell on rallies around 1.3128-30 with SL around 1.3170 for the TP of 1.3000.
