Wednesday, November 11, 2026

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FxWirePro: Oil price rise supports CAD higher, Poloz speech in focus

Oils pops buoying CAD, 1.3190-1.3224 was European am range for USD/CAD, currently trading at 1.3176 Huge hammer on Fri's candlestick line highlights the overall bullish bias, but short term downside likely Breaks above 2…

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

  • Oils pops buoying CAD, 1.3190-1.3224 was European am range for USD/CAD, currently trading at 1.3176

  • Huge hammer on Fri's candlestick line highlights the overall bullish bias, but short term downside likely

  • Breaks above 21-Day MA at 1.3240 a positive for bulls, daily close above tenkan line at 1.3162 adds to upside potential

  • Large USD 600mn 1.3185 option expiry today exerts magnetism, 1.3161 (Tenkan-Sen) could provide support

  • BoC Governor Poloz due to speak in Calgary at 1830GMT, also in focus will be US Existing Home Sales and speech by Atlanta Fed's D.Lockhart
Resistance Levels: 

R1: 1.3182 (Session Low Sep 21)

R2: 1.3236 (Session High Sep 21)

R3: 1.3240 (21-Day MA)

Support Levels:

S1: 1.3161 (Tenkan-Sen)

S2: 1.3100 (Psychological Level) 

S3: 1.3013 (Daily low Sep 18)

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By FxWirePro Team