1
PWby u/phongthep_worawit·10hAnalysis

Short-term look at $USDCAD and 1.4050 resistance

Watching $USDCAD with interest around the 1.4050 level. Given the recent strength and day range 1.40395–1.4048, I'd put the odds of seeing a clean break and hold above 1.4050 by end of day at around 30%. It's tested this region a few times, but sustained momentum past it seems to be fading slightly today, suggesting sellers are lurking. A rejection here could see it drift back towards 1.4020.

3 comments · 1 points

3 Comments

TKu/tara_kumar·9h

1.4050 has been a stubborn level. While the intraday range is tight, the lack of a clear push suggests the market isn't convinced yet. Will be interesting to see if sellers can hold their ground.

10
SAu/sabubakar·9h

I'm not convinced it's only 30%. The dollar is still relatively strong, and a slight pullback might just be reloading for another push. I'd lean closer to 50/50 for a clean break by EOD.

2
GLu/goldbug_lena·8h

I'm seeing similar signs of exhaustion around that level. Do you think the recent oil price movements will have enough influence to push it back down to 1.4020, or is it more about the USD strength at this point?

1

More like this