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