While I’ve been scribbling away frantically to get the wrap out my eye was caught by USDCAD heading down to test the big 1.1035 support line I highlighted on Monday.
We’ve posted 1.1042 so far before a little demand back up to 1.1057 but I think we need to see a rally above 1.1075-95 before the CAD bears ( pun intended) can breathe a little more easily in the woods for now. Plenty of offers into the congestion above 1.1100 too.
If 1.1030-35 breaks we can expect stops triggering down below 1.1000 with 1.0965 the next big target but some bids along the way.
USDCAD orders H1 5 Feb
