Thursday, October 15, 2026

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FxWirePro: Cloud top at 1.3171 a strong resistance for USD/CAD, close above could see further upside

USD/CAD broke above the cloud top (1.3173) on Friday, but failure above cloud supporting bears A daily close above the cloud top will put the bias on upside, 1.3268 could be the next target Oil trades weak on the day aft…

By Jay L. Zagorsky
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • USD/CAD broke above the cloud top (1.3173) on Friday, but failure above cloud supporting bears

  • A daily close above the cloud top will put the bias on upside, 1.3268 could be the next target 

  • Oil trades weak on the day after IEA said that oil sector investments are likely to decline further in 2016

  • International benchmark Brent was down 1 cent at $47.98 a barrel, and over 11 percent below this month's high

  • USD/CAD is currently trading at 1.3142 with immediate resistance at 1.3171 (cloud top) and support on the downside at 1.3040 (Daily Low Oct 23)

Resistance Levels:

R1: 1.3171 (cloud top)

R2: 1.3184 (Session High Oct 26)

R3: 1.3198 (Daily High Oct 23)

Support Levels:

S1: 1.3040 (Daily Low Oct 23)

S2: 1.3015 (Tenkan-Sen)

S3: 1.3004 (Daily Cloud Base)

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By FxWirePro Team