USD/CAD has gained more than 150 pips from the low of 1.29271 on account escalting trade talks between US and Canada.US and Canada trade talks has ended up without any major deal.US President Donald Trump has threatened on Sat that it would terminate the NAFTA if congress intervene.USDCAD hits high of 1.31030 and is currently trading around 1.30964.
WTI crude has shown a minor recovery after a decline on account of rising output from OPEC and US. It hits high of $69.58. It is currently around $69.07. US crude should break above $70.50 for further bullishness.
On the higher side, near term resistance is around 1.310 and any break above targets 1.3175/1.3245/1.3300.
The near term support is around 1.3060 and any break below targets 1.3000/1.2900/1.2855.
It is good to buy on dips around 1.3065-68 with SL around 1.3000 for the TP of 1.3175/1.3245.
