FxWirePro: USD/CAD loses momentum but outlook is bullish

• USD/CAD dipped on Wednesday  as Canadian dollar  gained some traction lifted by strengthening metals and oil prices.

• Gold continued its climb, surpassing $4,000 per ounce for the first time, as investors flocked to the safe haven amid rising geopolitical uncertainty.

• Copper prices nudged higher as market participants monitored risks of possible supply disruptions.

• Oil prices held firm, rising roughly 1% as traders shrugged off oversupply concerns after OPEC+ decided to limit production increases.

• Investors now await the U.S. Federal Reserve's September meeting minutes, due at 2 p.m. ET.

• Additionally, this week's Canadian employment report will also be monitored for important insights into the country's economic health.Bottom of Form

•  Immediate resistance is located at 1.3976(23.6%fib), any close above will push the pair towards 1.4000 (Psychological level).

• Support is seen at 1.3897(38.2%fib) and break below could take the pair towards 1.6163( (Lower BB).

Recommendation: Good to buy around 1.3920, with stop loss of 1.3830 and target price of 1.4000