USD/CAD trades higher on weak crude oil price, buy on dips

FX:USDCAD   US-Dollar / Kanadischer Dollar
USD/CAD continuing its bullishness for fifth consecutive days. The pair jumped almost 360 pips form the low of 1.22472. The jump in prices was mainly due to rise in US 10 year bond yields and declining crude oil prices. The pair hits intraday high at 1.25914 and is currently trading around 1.25904.

US 10 year bond yield once again sparked till 2.85% after showing a minor decline till 2.74%. The reason for rise in yields is due to increase in inflation and that will increase chance of rising interest rates by Fed.

Oil prices declined almost 2.5% yesterday and hits one month low on rising US crude stock piles. US crude production hits record high of 10.25 million barrels per day. The commodity hits low of $61.31 and is currently trading around $61.63.

On the higher side, major resistance is around 1.2600 and any break above will take the pair till 1.2660/1.2700.

The near term support is around 1.2535 (55- day EMA ) and any break below will take the pair till 1.2500/1.2435.

It is good to buy on dips around 1.2575-80 with SL around 1.2535 for the TP of 1.2660/1.2700.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Devisen-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden