The pair has broken major resistance at 1.3000 (100-DMA), scope for further gains on charts.
Oil edges lower on the day, ignores comments from Saudi oil minister, keeps CAD subdued.
Momentum studies for the pair are . 1.3090 (Friday’s high), above which the pair could target 1.3107 (June 28 high), 1. 3121 (June 27 high) and then 1.3189 (May 24 high).
Weakness only on break below 1.2986 (23.6% Fib of Jan to May fall), test of 1.2931 (50-DMA) then likely.
US and Canada data docket is empty today, focus on overall sentiment across markets and the oil price movements.
Good to buy dips around 1.3020/30, SL: 1.2985, TP: 1.3090/ 1.31/ 1.3120/ 1.3190