Thursday, October 15, 2026

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FxWirePro: USD/CAD resumes downside after Bank of Canada's interest rate decision

The USD/CAD pair declined on Wednesday, as the Canadian dollar gained strength after the Bank of Canada left interest rate unchanged. The pair recovered up to 1.3294 levels in the early US session, but fell back as Bank …

By FxWirePro Team
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EconoTimes — Reading the Times. Understanding the Future.

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  • The USD/CAD pair declined on Wednesday, as the Canadian dollar gained strength after the Bank of Canada left interest rate unchanged.
     
  • The pair recovered up to 1.3294 levels in the early US session, but fell back as Bank of Canada held rates steady offsetting weaker oil prices.
  • The pair remains weak, as the Canadian dollar is set to gain further against dollar in the short term.
     
  • The currency pair is trading at 1.3250 levels, it is expected to reach 1.3210 levels and 1.3180 levels in the short term.
     
  • The immediate support can be seen at 1.3212, break below this level will expose the pair to next support level at 1.3181.
     
  • Major resistance can be seen at 1.3307, break above this level will expose it towards 1.3353 levels.

    Resistance Levels

    R1: 1.3260 (50% Retracement level)

    R2: 1.3307 (61.8% Retracement level)    

    R3: 1.3353 (Dec 5th high)

    Support Levels

    S1: 1.3212 (38.2% Retracement level)    

    S2: 1.3181 (Oct 13th lows)             

    S3: 1.3150 (23.6% Retracement level)

 

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By FxWirePro Team