The US Dollar remains in digestion against its Canadian namesake but negative RSI divergence hints a turn lower may be in the cards.
A daily close below the 76.4% Fibonacci expansion at 1.1928 exposes the 61.8% level at 1.1858.
Alternatively, a push above the 100% Fib at 1.2042 opens the door for a challenge of the 123.6% expansion at 1.2156.
An actionable trade setup is absent at this point, arguing against committing to a directional bias on long or short side.
We will continue to stand aside for now, waiting for a clear-cut trading opportunity to present itself in the days ahead.
Feel free to connect to me over Skype - rohit.fidelis
