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RTby u/rtoth·9hAnalysis

USDCAD at the 1.4080s, watching for a break or rejection

It's interesting to see $USDCAD testing the 1.4080s again today, after finding resistance there multiple times over the last week. The candles suggest exhaustion around this level, but the bids underneath are still strong enough to prevent any meaningful pullback. I'm watching to see if we get a decisive break above 1.4090, which could open up a move towards 1.4150, or if it acts as a ceiling once more, potentially setting up a retreat back to the 1.4020 area. A clear daily close below 1.4000 would invalidate the current upward bias for me.

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1 Comments

CHu/chloe65·7h

I'm seeing that too. It's been a tough nut to crack. I'm leaning more towards a rejection again, the buying pressure just doesn't feel sustainable enough to push through that resistance cleanly.

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