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USDCAD has lost more than 150 pips to 1.40006 for the day on surging crude oil prices.WTI crude oil rose more than 25% on rising tensions in the Middle East and production cut. It hits a high of $18.52 and is currently trading around $17.92.
Technically, near term resistance is around 1.40677 and any violation below will drag the pair down till 1.41014/1.41445.
The immediate support is at 1.4000 and any indicative break above targets 1.3920/1.3850.
It is good to sell on rallies around 1.4058-60 with SL around 1.410 for the TP of 1.3925.
