• USD/CAD rose sharply on Wednesday as stronger the greenback lower oil prices weighed on Canadian dollar.
• The dollar firmed globally ahead of the release of minutes from the Fed's September policy meeting later in the day. A consumer price index reading due on Thursday.
• Crude prices slumped for a second straight session, as weak demand and rising U.S. inventories countered the risk of supply disruption from conflict in the Middle East
• Technical signals are strongly bullish as RSI is at 63, daily momentum studies 5, 9 and 10 DMAs are trending up.
• Immediate resistance is located at 1.3691(23.6%fib), any close above will push the pair towards 1.3706(Higher BB).
• Support is seen at 1.3646(38.2%fib) and break below could take the pair towards 1.3606 (50%fib).
Recommendation: Good to buy around 1.3670 , with stop loss of 1.3600 and target price of 1.3760
