• USD/CAD advanced on Wednesday as market positioned ahead of a Federal Reserve policy decision..
• Markets strongly bet that Fed policymakers will lift the benchmark rate by 0.25 percentage point to a 3.75% to 4% range and signal further tightening ahead. The policy decision is due at 2:00 p.m. ET (1800 GMT).
•Oil prices slipped as reports that Saudi Arabia was offering additional crude cargoes via Oman eased concerns about the scale of Middle East supply disruptions.
• Canadian housing starts were little changed last month as construction activity moderated, adding to signs of a stalling housing market.
• Canadian housing starts were little changed in August at an annualized 229.0k units, while the six-month moving average fell 1.3% m/m to 244.1k.
• Immediate resistance is located at 1.3961(Higher BB), any close above will push the pair towards 1.4058(38.2%fib.).
• Support is seen at 1.3913(50%fib),and break below could take the pair towards 1.3845(SMA 20.)..
Recommendation: Good to buy around 1.3920 with stop loss of 1.3850 and target price of 1.4000
