USDCAD has lost more than 150 pips after BOC kept its interest rates unchanged at 1 3/4 percent. The central bank signaled that the chance of rate cut soon was quite less and more hawkish than expected. The pair hits low of 1.3195 and is currently trading around 1.31966 and is currently trading around 1.32009.
Crude oil prices jumped sharply more than $2.5 yesterday on easing the US-China trade war which will increase global demand. It hits an intraday high of $56.62 and is currently trading around $56.26.
On the flip side, major support is around 1.3180 and any violation below targets 1.3140 (61.8% fib)/1.3090.
The near term resistance is around 1.3235 and any convincing break above will take the pair to next level till 1.3265/1.3300. Any break above 1.3380 high made on Sep 3rd 209 confirms bullish continuation.
It is good to sell on rallies around 1.3255-60 with SL around 1.3300 for the TP of 1.3095.
