USDCAD trades higher on 4 consecutive day and hits multi month high around 1.35483 The decline in Canadian dollar was mainly due to easing crude oil price.Oil has lost more than 17% on trade war escalation and rise in crude oil inventory. Markets eye Canadian GDP for further direction. It is currently trading around 1.35483.
On the higher side, near term resistance is around 1.3550 and any violation above will take the pair till 1.3585/1.36060.
The near term support is around 1.3455-70 and any indicative break below will take the pair till 1.3400/1.3350.
It is good to buy on dips around 1.3515-20 with SL around 1.3470 for the TP of 1.3605/1.3660.
