USD/CAD consolidating in a triangle pattern and on EMA. The current trading range for the pair is 1.3170 – 1.3150.

Volatility is still low, as traders await US CPI and CAD manufacturing sales due in a couple of hours.

Fundamentals:

CAD: Manufacturing Sales
Previous: 0.8%
Forecast: 0.6%

USD: CPI figure

Previous: 0.0%
Forecast: 0.1%
The gain in CPI is likely to strengthen USD, causing sell in USDCAD.

Technical Levels:

S: 1.3068 1.3108 1.3133
Pivot: 1.3173
R: 1.3213 1.3238 1.3278

Analysis:
– Breakage of resistance @ 1.3170 is likely to lead market towards 1.3200.
– Breakage below 1.3150 is likely to lead market to 1.3130

Recommendation: Good to Buy Above 1.3170 SL: 1.3150 TP: 1.3180/ 1.3190/1.3200

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