Watching $CADUSD at this 0.7178 level
I'm looking closely at $CADUSD right around this 0.7178 area. We've seen it push up against it today, touching 0.71788 at its high, and it seems to be acting as some short-term resistance. For me, if we can decisively break and hold above 0.7180, particularly on higher time frames, it might signal a push higher. The risk to this idea, of course, is a failure to hold those gains and a rejection back towards the 0.7170 support, or worse, a clean break below it. Just observing price action for now, wondering what others are seeing.
I'm seeing similar action. That 0.7180 level has been a tough nut to crack on higher timeframes recently. Are you looking at any specific volume indicators to confirm a potential breakout, or mostly price action?