USDCAD trades slightly weak after BOC Governor Poloz said that the economy is in the good shape and monetary policy conditions were about right. This has decreased hopes of rate cut by the Bank of Canada in the coming months. The pair hits low of 1.32698 and is currently trading around 1.32693.
WTI crude continues to trade higher for 3rd consecutive days on US inventory draw and trade deal optimism. It should break beyond $58.75 for further bullish continuation.
On the flip side, near term support is around 1.32700 (200- day MA), violation below will drag the pair down till 1.3235/1.3180.
The major trend reversal level is at 1.3385 and the indicative break over will take the pair to next level 1.3435/1.3500.
It is good to buy on dips around 1.3270-75 with SL around 1.3230 for the TP of 1.3385.
