Oil declines by 1.2% on opening, leading the price dropping to $ 52, which helped the USD to keep it stable against CAD, despite the solid Canadian jobs report released on Friday. Buyers remain in control in the short term and look ready for a test at 1.33 before the start of the European session. For now the highest values for the day touched 1.3297.
Looking ahead, the couple will be influenced by the risky sentiment this week, with US - Chinese trade negotiations again being a major focus. This will affect the cross on two fronts, oil price movements and risky moods.
The fall in the cross on Friday after the job report showed that the main support is the 100-day MA (red line) place that can be considered a good area for buyers to continue building long positions. As the price stays above this level, the upward impulse should remain unchanged.
The main resistance is now around 1.3320-30 from late November to early December, with further resistance at 1.3360.
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