Saturday, October 17, 2026

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FxWirePro: USD/CAD loses momentum but outlook is bullish

The USD/CAD pair has declined sharply to test support level at 1.3180 levels, after the US market opened. However, the pair is trying to rebound after finding support level at 1.3180 levels. As long the pair trades above…

By Keith Miller
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • The USD/CAD pair has declined sharply to test support level at 1.3180 levels, after the US market opened. However, the pair is trying to rebound after finding support level at 1.3180 levels.
     
  • As long the pair trades above strong support zone located at 1.3110 levels, the ongoing bullish trend for the pair is set to continue in the short term.
     
  • The currency pair is trading around 1.3190 levels, it is expected to reach 1.3250 levels and 1.3300 levels in the short term.
     
  • The immediate support can be seen at 1.3180, break below this level will expose the pair to next support level at 1.3165.
     
  • Major resistance can be seen at 1.3222, break above this level will expose it towards 1.3275 levels.

    Resistance Levels

    R1: 1.3222 (38.2% Retracement level)

    R2: 1.3275 (Daily high)

    R3: 1.3835 (23.6% Retracement level)

    Support Levels

    S1: 1.3180 (Daily lows)   

    S2: 1.3165 (50% Retracement level)
     
  • S3: 1.3110 (61.8% Retracement level)

 

 

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By FxWirePro Team