• USD/CAD rose on Thursday as Canada's political turmoil and lower oil prices weighed on the Canadian dollar.
• Oil prices fell by around 1% involatile trade on fears that weak economic growth in Europe might limit energy consumption, as uncertainty surrounding the Middle East crisis kept traders on edge.
•At GMT 05:59 the pair was trading at 1.3861, up 0.17%, highest level since Aug 6th .
• Technical highlight upside risks for USD/CAD, with momentum studies, 5, 10 and 11 DMAs tracking north.
• Immediate resistance is located at 1.3874(23.6%fib), any close above will push the pair towards 1.3887 (Aug 2nd high).
• Support is seen at 1.3807(5DMA) and break below could take the pair towards 1.3792(50%fib).
Recommendation: Good to buy around 1.3850, with stop loss of 1.3750, and target price of 1.3920
