Ella 
During early European trading on Thursday, USD/CAD closed on the positive line for the second consecutive day. The pair’s recovery was supported by the hawkish stance of the Federal Reserve (FED), which kept interest rates unchanged at Wednesday’s policy meeting. Additionally, falling oil prices have also weighed on the commodity-linked Canadian dollar as the country is a major oil exporter to the United States. The pair is currently trading around 1.3495, with an intraday gain of 0.26%.
The first level of resistance for the pair is located near the 50 hourly EMA at 1.3510. Another level of upside resistance to watch is near the confluence of the 100 hour EMA and the upper Bollinger Band, at 1.3530. Any follow-through buying above the latter would pave the way to the September 13 high at 1.3586, followed by the psychological round figure of 1.3600.
On the downside, initial support is seen at 1.3465 (September 20 high). The key point of contention lies in the 1.3400-1.3410 area, which is a confluence of psychological thresholds, the lower Bollinger Bands and the August 11 low. Further south, the next downside stops will occur at 1.3380 (September 19 low).
Notably, the Relative Strength Index (RSI) is sitting above 50, activating the bullish momentum for the USD/CAD pair.
