|1.1389 ||1.1116 |
|1.1466 ||1.1043 |
Alternatively, a reversal above the 1.1300-28 zone (channel top, trend line support-turned-resistance) opens the door for a challenge of the 23.6% Fib expansion at 1.1389.
The overall USDCAD trend has pointed upward for over two years. As such, we will treat any oncoming weakness as an opportunity to enter long at a more attractive level rather than a short trade setup. In the meantime, we remain flat.