Fxwirepro: Despite a pending rebound Usd / cad, the risk of downward movement is still

• On Thursday, the USD / CAD continued its decline against the backdrop of the growing Canadian, which largely contributed to the bullish price of oil, which lasts 3 days in a row and leveling achieve bucks.
• Prices of US crude oil rose by 0.83% - to 49.92 dollars per barrel, which was caused by a shortage of supplies in Libya and a reduction in the volume of OPEC production.
• Producer prices in Canada rose in February by 0.1%, in contrast to January, up 0.3% was lower than expected. However, the profit has increased from 2.5% to 3.5% compared to last year.
• It is possible that a further weakening of USD / CAD will continue due to the boundary line of a powerful resistance at 1.3363, which is close encounter with the bulls the way up and will reduce the pair in the short term.
• Instant support was seen in the area of ​​1.3258, a break below which will throw a pair to the next support line at around 1.3217.
• Instantaneous resistance entrenched in the region of 1.3363, the breakdown of which will target above the level of 1.3408.
  

resistance levels

R1: 1.3315 (38.2% correction level)

R2: 1.3363 (50% correction level)

R3: 1.3408 (61.8% correction level)

support levels

S1: 1.3258 (23.6% correction level)

S2: 1.3217 (low of January 23)

S3: 1.3174 (low of January 6)