Thursday, October 15, 2026

Technicals

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FxWirePro: USD/CAD declines as oil prices rally, scope for further downside

The USD/CAD pair slipped lower on Monday as crude oil prices rose. The pair hit high at 1.3374 before declining to trade around 1.3323 levels in the early US session. As long the pair trades below strong resistance locat…

By Karin Verspoor
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • The USD/CAD pair slipped lower on Monday as crude oil prices rose. The pair hit high at 1.3374 before declining to trade around 1.3323 levels in the early US session. 

  • As long the pair trades below strong resistance located at 1.3400 levels, the ongoing bearish trend for the pair is set to continue. 

  • The currency pair is trading around 1.3324 levels, it is expected to reach 1.3250 levels and 1.3180 levels in the short term.

  • The immediate support can be seen at 1.3300, break below this level will expose the pair to next support level at 1.3235.

  • Major resistance can be seen at 1.3400, break above this level will expose it towards 1.3480 and beyond.

    Resistance Levels

    R1: 1.3365 (61.8% Retracement level)

    R2: 1.3400 (Psychological levels)

    R3: 1.3480 (March 4th high)

    Support Levels

    S1: 1.3300 (50% Retracement level)

    S2: 1.3235 (38.2% Retracement level)

    S3: 1.3150 (23.6% Retracement level)

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By FxWirePro Team