USD/CAD extends post-BOC rebound, testing 1.3150

The USD/CAD pair is on a roll higher in a risk-on environment, as the US dollar remains broadly bid on a Clinton win at the final US presidential debate.

USD/CAD trades above 5-DMA at 1.3127

Currently, the USD/CAD pair advances 0.27% to fresh session highs of 1.3149, having found some support at 5-DMA. The major rides higher this session, extending its rebound from BOC decision induced sharp sell-off witnessed a day before.

The USD/CAD pair takes advantage of persisting risk-on wave, triggered by a Clinton US election debate win (most polls suggest), which underpinned the greenback across the board. Moreover, a minor corrective slide seen in oil prices weigh on the CAD, driving USD/CAD higher.

On Wednesday, USD/CAD slumped more-than 1 big figure after BOC lowered its growth forecast, although preferred to stand pat on the interest rates in anticipation of more incoming data for a clear assessment of the economic conditions.

USD/CAD Technical Levels

To the upside, the next resistances are seen near 1.3168/71 (10 & 20-DMA) and 1.3200 (round figure) and from there to 1.3226 (daily R2). To the downside, immediate support might be located at 1.3111 (50-DMA) and below that at 1.3063 (100-DMA) and at 1.3032 (200-DMA).