USDCAD - Correction nearly over
USDCAD - Intraday - We look to Buy at 1.3271 (stop at 1.3241)
Price action continues to be mixed and volatile for 3 days in succession resulting in spikes in both directions. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. The 161.8% Fibonacci extension is located at 1.3311 from 1.3042 to 1.3208. There is scope for mild selling at the open but losses should be limited. Bespoke support is located at 1.3270.
Our profit targets will be 1.3460 and 1.3480
Resistance: 1.3311 / 1.3360 / 1.3467
Support: 1.3270 / 1.3267 / 1.3246
Price action continues to be mixed and volatile for 3 days in succession resulting in spikes in both directions. The overnight rally has been sold into and there is scope for further bearish pressure going into this morning. The 161.8% Fibonacci extension is located at 1.3311 from 1.3042 to 1.3208. There is scope for mild selling at the open but losses should be limited. Bespoke support is located at 1.3270.
Our profit targets will be 1.3460 and 1.3480
Resistance: 1.3311 / 1.3360 / 1.3467
Support: 1.3270 / 1.3267 / 1.3246
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