Canadian Dollar USDCAD increased 0.0020 or 0.14%
. The Canadian Dollar lost ground, after Canada’s consumer price index (CPI) advanced less-than-anticipated by 1.6% YoY in March. The pair is expected to its find support at 1.3396 and its first resistance at 1.3494.
With 1.3456 minor support intact, intraday bias remains mildly on the upside for 1.3534 resistance. Break will target 1.3598 high next. Decisive break there will confirm resumption whole medium term rally from 12.460 and target next medium term fibonacci level at 1.3838. . On the downside, below 1.3456 minor support will turn intraday bias neutral and bring consolidation. But retreat should be contained well above 1.3222 support and bring another rally.
With 1.3456 minor support intact, intraday bias remains mildly on the upside for 1.3534 resistance. Break will target 1.3598 high next. Decisive break there will confirm resumption whole medium term rally from 12.460 and target next medium term fibonacci level at 1.3838. . On the downside, below 1.3456 minor support will turn intraday bias neutral and bring consolidation. But retreat should be contained well above 1.3222 support and bring another rally.
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