USDCAD is leaning on the strong resistance around 1.2925/35

A big level up here in USDCAD and one that if broken, could see a quick move on 1.3000.

USDCAD daily chart

USDCAD daily chart

I might well be pissing into the wind here but I’ve sold very small at 1.2926 just to test the level. I’ve got a 15 pips stop.

What’s working in the USD’s favour is Trumps latest tweets which show a possible softening on tarrifs.

We’ve also the BOC monetary policy meeting risk this week so I’m just looking to nick a few pips if the level holds, rather than a longer-term play.

Ryan Littlestone

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