- USD broadly offered as market drifts on position adjustment ahead of FOMC, while oil rose on after an unexpected drawdown in U.S. stockpiles
- USD/CAD trades in a tight range as market participants largely on sidelines ahead of FOMC
- The pair edged higher from session lows at 1.3210, is currently trading at 1.3246, day's range 13.210-57
- Overall bias remains on the upside, Tenkan & kijun lines are positively aligned, highlighting the bullish sentiment
- Immediate resistance is seen at 1.3253 (21-Day MA) ahead of 1.3273 (Daily High Sep 15)
- On the downside supports are located at 1.3211 (Session Low Sep 16) and then 1.3179 (Daily Low Sep 10)
- US inflation figures will take center stage later in the day, consensus expectation is for a solid reading which could buoy USD bulls
R1: 1.3253 (21-Day MA)
R2: 1.3273 (Daily High Sep 15)
R3: 1.3280 (Daily High Sep 14)
Support Levels:
S1: 1.3211 (Session Low Sep 16)
S2: 1.3179 (Daily Low Sep 10)
S3: 1.3153 (Kijun-Sen)


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