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EURCAD: Seeing Some Consolidation Around 1.6080-90
Been watching $EURCAD today. It pushed up, but seems to be finding some resistance right around 1.6080-90, sitting pretty much at the day's high end. The move from 1.60357 was decent, but it feels like it's stalling out a bit here. Wondering if anyone else is seeing the same hesitation or if they anticipate a clear break above 1.60927.
Seems like it needs a fresh catalyst to really push through, otherwise, we might just chop around this level for a bit longer. Thinking about potential pullback scenarios if it fails to hold these gains.
1 comments · 16 points
It's been consolidating there for a few hours now. I wouldn't expect a clean break without a significant driver; it's more likely to range or retrace from here.