Thursday, October 15, 2026

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FxWirePro: USD/CAD eases to 1.2970, rising oil prices lend extra support to CAD

Oil prices made strong gains following the publication of the US inventory data yesterday Brent increased in price by $1.5 to $54.5 per barrel, while WTI rose by almost $2 to $49.5 per barrel Better tone in crude oil pri…

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

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  • Oil prices made strong gains following the publication of the US inventory data yesterday 

  • Brent increased in price by $1.5 to $54.5 per barrel, while WTI rose by almost $2 to $49.5 per barrel

  • Better tone in crude oil prices was lending extra support to the Canadian dollar

  • USD/CAD managed to reverse Wednesday's sharp pullback, but gains were capped 1.2993, just ahead of 1.30 barrier

  • At the time of writing the pair is slightly low from day's highs, trading at 1.2976, range 1.2993/1.2942

  • Initial hurdle is seen at 1.2995 (high Jul 30) followed by 1.3043 (high Jul 28) and then 1.3046 (high Jul 23)

  • Supports are located at 1.2940 (low Jul 30), 1.2861 (low Jul 29) and finally 1.2728 (low Jul 16)

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EURUSD - Levels to watch - 1.100 GBPUSD Levels to watch - 1.3180 USDCHF Levels to watch - 0.8400 USDCAD - Levels to watch - 1.4300 AUDUSD - Levels to watch - 0.7000 NZDUSD - Levels to watch - 0.5560

By FxWirePro Team