• USD/CAD eased on Wednesday as cooler-than-expected inflation data that bolstered expectations for an outsized interest rate cut from the Bank of Canada.
•Data on Tuesday showed Canada's annual inflation rate slowed more than expected to 1.6% in September,
•On the data front, Canadian manufacturing sales declined 1.3% in August compared to July, owing to reduced sales of primary metals, petroleum, and coal goods.
• At GMT 16:37 ,the dollar was down 0.03 % at 1.3770 against Canadian dollar.
• Immediate resistance is located at 1.3793(Daily high), any close above will push the pair towards 1.3822(23.6%fib).
• Support is seen at 1.3764 (38.2%fib) and break below could take the pair towards 1.3716 (50%fib).
Recommendation: Good to sell around 1.3780, with stop loss of 1.3860, and target price of 1.3700
