• USD/CAD hovered near three week high on Wednesday as focus shifted to U.S. Federal Reserve’s Jackson Hole symposium later this week.
• Federal Reserve Chair Jerome Powell's speech at Friday's Jackson Hole symposium will test expectations for U.S. policy easing.
• Investors will also eye Wednesday’s release of the Fed’s July meeting minutes, marking the first dissent since 1993 as two officials opposed the 'hold' decision..
• Meanwile,cooler Canadian inflation data on Tuesday bolstered expectations for the resumption of policy easing by the Bank of Canada.
•Money markets are expecting a 56.6% chance of a rate cut By Bank of Canada on Oct. 29.
• At GMT 05:07, the US dollar was down 0.40% to 1.3859 against the Canadian dollar.
• Immediate resistance is located at 1.3880(50%fib), any close above will push the pair towards 1.3919(Higher BB).
• Support is seen at 1.3798(SMA 20) and break below could take the pair towards 1.3746(38.2%fib).
Recommendation: Good to buy around 1.3840, with stop loss of 1.3750 and target price of 1.3920
