Wednesday, November 11, 2026

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FxWirePro: Strong support for USD/CAD at 1.31, good to buy at dips

USD/CAD daily price action rages within the cloud, Trend remains on the upside despite the recent failure above 1.3218 Canadian GDP data matched forecasts, while both US Personal Income and Spending have disappointed exp…

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

  • USD/CAD daily price action rages within the cloud, Trend remains on the upside despite the recent failure above 1.3218

  • Canadian GDP data matched forecasts, while both US Personal Income and Spending have disappointed expectations

  • USD/CAD higher post data, is currently trading at 1.3189, with strong support by Daily Tenkan at 1.3108

  • A daily close below cloud base, which comes in at 1.3139 could buoy bears 

  • Resistance on the upside is seen at 1.3213 (cloud top) ahead of 1.3237 (Daily high Oct 29)

  • Stochs on the verge of a bullish crossover, but remain near overbought, so caution advised

  • A break above cloud top at 1.3213 could see the pair at 1.33 levels

Recommendation: Good to buy dips around 1.3140, SL: 1.3100, TP: 1.3198

Resistance Levels:

R1: 1.3213 (cloud top) 

R2: 1.3237 (Daily high Oct 29)

R3: 1.3281 (Daily High Oct 28)

Support Levels:

S1: 1.3145 (Kijun-Sen)

S2: 1.3139 (Daily Cloud Base)

S3: 1.3108 (Tenkan-Sen)

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By FxWirePro Team