Price movement has died on USDCAD. So little price movement. I make the range boundaries at 1.3295 and 1.3240. I am looking to short USDCAD so I am waiting for a fake out to the top of the range so that I can go short with a good RR
Big bounce on USDCAD. Rubbish GDP data cause a big spike upwards. Data was actually negative so I think that this is the bottom of the market now and price will now move upwards for the next new months
Momentum upwards has died now. I expect that price will start falling later this afternoon or maybe tomorrow morning. CAd could range now it has been sideways for a month and I do not see a strong trend on fundamentals
The USDCAD finds a good resistance around the 1.3400 zone and tries to go back down. To the downside, the 200 day EMA and the 1.3300 level could act as support. To the upside, the 1.3500 level could act as resistance.
Good resistance on the USDCAD around the 1.3343 level. the lows on the daily chart are getting higher, showing that the pressure may cause a bullish breakout. To the upside, the 1.3400 level may act as resistance.