FxWirePro: USD/CAD steadies around 1.3260, retains bid tone

• USD/CAD steadied on Wednesday as markets awaited the minutes of the US Federal Reserve’s September meeting for clues on the outlook for interest rates..

• Markets are awaiting the minutes of the U.S. Federal Reserve’s September meeting later Wednesday for clues on the future path of monetary policy.

• Traders expect the Federal Reserve to hold interest rates steady at its October meeting, while markets price an 86% probability of a 25-basis-point hike in December.

• In Canada, investors are pricing in at least one 25-basis-point rate hike by the Bank of Canada by year-end.

• Meanwhile, oil prices rose on continued Middle East supply risks and a storm heading for ​oil-producing regions in the United States.

• Gold and silver fell more than 1% as a stronger U.S. dollar and higher yields weighed on sentiment, further hurting risk appetite in the resource-heavy market.

•  Immediate resistance is located at 1.4280(23.6%fib), any close above will push the pair towards 1.4357(Higher BB.).

• Support is seen at 1.4207 (Daily low) and break below could take the pair towards 1.4148 (38.2%fib).

Recommendation: Good to buy around 1.3220 with stop loss of 1.3150 and target price of 1.3280