• Dovish shift in Fed expectations post PBOC weighed on USD Wednesday
  
  
• USD broadly stronger today after PBOC's Yi Gang comments on the yuan returned risk-on in the markets
  
  
• USD/CAD rebounded from yesterday's 1.2952 base, touched session highs at 1.3016 before edging slightly lower to 1.3004
  
  
• Strong support is seen by Kijun-Sen at 1.2934, while 1.3040  21 DMA is the next immediate hurdle
  
  
• Canadian new house price index and US retail sales data due later in the day will provide further direction to the pair
  
  

Resistance Levels:

R1: 1.3040 (21 DMA)

R2: 1.3083 (Tenkan-Sen)

R3: 1.3158 (Daily High Aug 12)

Support Levels:

S1: 1.2952 (Daily low Aug 12)

S2: 1.2944  (Daily Low Jul 30)

S3: 1.2934 (Kijun-Sen)