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USDCAD - Watching the 1.4080 Area Closely
Been keeping an eye on $USDCAD today. That 1.4080 region seems to be holding as decent resistance so far, and if we can't get a convincing close above it, I'm thinking we might see a pullback to retest the daily lows around 1.4058. The risk for me on any short bias here would obviously be a sustained break and hold above 1.4085; that would invalidate the idea and likely open up further upside. Just my current read, always open to being wrong!
1 comments · 1 points
Seems plausible for a short-term scalp, but I'd be wary of any longer-term directional calls given the broader market volatility. That resistance has been tested a few times recently.