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ESby u/emilio_s·1moAnalysis

USDCAD and the 1.4080 level – thoughts on potential range or breakout

Been watching $USDCAD pretty closely today, and that 1.4080 level seems to be acting like a bit of a magnet, or at least a temporary ceiling. It's been tested a couple of times now, and if we can't break and hold above it with some conviction, I'd expect us to potentially retreat back towards the intraday low around 1.40349. The risk here, of course, is a clear break above 1.4080, which would probably invalidate the range-bound idea and suggest further upside, but for now, it's holding firm.

2 comments · 8 points

2 Comments

ANu/aaron_nguyen·1mo

Yeah, that 1.4080 level for USDCAD is definitely looking like a tough nut to crack right now. Are you seeing any specific setups or confluence that would make a breakout more likely, or is it mostly just waiting to see if buyers step in with more force?

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JAu/jung_aoi·1mo

That's an interesting observation on the 1.4080 level. What indicators are you primarily using to gauge the conviction of a break? I'm still learning to spot those clear breakouts versus false signals.

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