Is this just the beginning of the fun and games in USDCAD?
Well that was fun, unless you got caught out in the whipsaw.
The interbank Hi/lo was 1.2521/1.2378 so a but inside those chart levels. We’re over to the presser next at 16.15 GMT so look for the price to tread water until then. On the levels post before the announcement, and taking into oconsideration the price action here, I’ve more confidence in the wider levels now in play around the high 1.25’s and down to around the recent 1.2380 lows but I’m still wary of the presser.
Fortunately my buy stop was well out of the way of that so I ended with no position.