After USD/CAD broke up through the big 50 fib at 1.1234 it became support in trading today and the level could play a key role in keeping the pair in its gains.
USD/CAD h4 chart 20 03 2014
Corp offers are seen up top at 1.1310 and 1.1325 but nothing of size and there’s small offers riding up to 1.1400. Spec’s are showing more interest up above with offers at 1.1285 and 1.1300 with stops on a break.
Corps are on the bid at 1.1220, 1.1200, 1.1170, 1.1080 and in good size at 1.1050. Specs are bidding at 1.1225, 1.1185.
There’s some big options going off again tomorrow at 1.1250 (1.2bn) 1.1300 (1.4bn) and 1.1350 (1.9bn) but don’t hang your hat on options as we had a total of 2.2bn go off today at 1.1300.
