Thursday, October 15, 2026

Technicals

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FxWirePro: USD/CAD outlook weaker on renewed downside pressure

The USD/CAD declined on Thursday, as commodity currencies were helped by the Federal Reserve's decision to keep U.S. interest rates unchanged and buoyed by climbing oil prices after a surprise U.S. crude stock draw. The …

By FxWirePro Team
1 min read
EconoTimes — Reading the Times. Understanding the Future.

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  • The USD/CAD declined on Thursday, as commodity currencies were helped by the Federal Reserve's decision to keep U.S. interest rates unchanged and buoyed by climbing oil prices after a surprise U.S. crude stock draw.
     
  • The pair hit low at 1.2999 in the early US session before retreating slightly towards 1.3009.
     
  • The currency pair is trading at 1.3009 levels, it is expected to reach 1.2600 levels and 1.2550 levels in the short term.
     
  • The immediate support can be seen at 1.2967, break below this level will expose the pair to next support level at 1.2900.
     
  • Major resistance can be seen at 1.3100, break above this level will expose it towards 1.3146 levels.

    Resistance Levels

    R1: 1.3033 (61.8% Retracement level)

    R2: 1.3100 (Psychological levels)               

    R3: 1.3146 (Sep 1st high)

    Support Levels

    S1: 1.2967 (50% Retracement level)        

    S2: 1.2900 (38.2% Retracement level)    

    S3: 1.2846 (Sep 8th lows)

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By FxWirePro Team