Major resistance- 1.3385
USDCAD trading higher for the day after a minor decline till 1.32500. The overall trend is still bullish as long as support 1.3200 holds. The Canadian retail sales declined slightly less than forecast, it came at -0.1% vs estimate of -0.3%. The pair It hits an intraday high of 1.33145 and is currently trading around 1.33098.
The WTI crude oil price is on the higher side, but it should break above $58.75 for further bullish continuation. Any breach beyond targets $60.50.
On the flip side, near term support is around 1.32500 and violation below will drag the pair down till 1.3235/1.3180.
The major trend reversal level is at 1.3385, the indicative break over will take the pair to next level till 1.3435/1.3500.
It is good to buy on dips around 1.3288-90 with SL around 1.3230 for the TP of 1.3435.
