CADUSD - Watching the 0.7165 area again
Been keeping an eye on $CADUSD and it seems intent on retesting the 0.7165 support. We've bounced off it a couple of times recently, so it's clearly got some significance. If it holds, we might see a gentle grind back towards 0.7180 or even 0.7200, nothing spectacular but a nice relief bounce. The risk, naturally, is a clean break below 0.7160. If that happens on any decent volume, then all bets are off and we'd likely be looking at a move towards 0.7140 or lower pretty quickly. It's one of those setups where if you're wrong, you'll know it almost immediately.
I'm seeing similar price action. The bounce potential seems limited given the broader USD strength, but a quick scalp to 0.7180 is plausible if it holds.