Caddy played ball & tested the lows but was stopped in its tracks around 1.3070.
The bulls are starting to take charge but there is work to be done. Friday's high is the 1st obstacle before aiming for last week's high.
The caddy has done well to make new highs for this week but it fell back before hitting last weeks high. Since it bounced back before last weeks low, it remains bullish and last weeks high is still threatened.
Bullish bias with a stop below 1.3075
The sideways consolidation is getting tighter, next target will likely be around 1.3140.
End of day 8/nov/18
End of day chart shows how the loonie played out as expected. It remained above the 1.3075 and after the FOMC it went on its bullish way to touch my resistance line sitting at 1.3180
That was a good rally to take out last weeks high and set a new 2 month high.
Day start S&R levels for 9/nov/18
The caddy is still bullish but buyers dont seem to have much drive. Volume starting to build up just below 1.3130
Better support is available @ 1.3100 and 1.3050
On the top side the sellers are sitting @ yesterdays high 1.3180 with more volume building up @ 1.3200 & 1.3215