The bounces are shallow but 1.2500 is still holding firm in USDCAD
- 1.2500 contained a barrier yesterday and it’s been the low for two days (so far)
- Bounces limited to 1.2525/30 keep the bearish pressure on. 55 H1MA at 1.2531
- Further intraday resistance at 1.2545/50, then 1.2565/70. 100 H1MA at 1.2574, 100 DMA 1.2599
- Stops likely building in size on a break of 1.2500
- Support next at 50.0 fib of Sep/Oct lo/hi 1.2488
- Stronger support at 1.2450
Retail platforms may be showing prints under 1.2500 due to spread differentials (as per the chart below) but both BBG and Rtrs have the lows at 1.2500.
USDCAD 15m chart
Psychedelic chartist extraordinaire. Have your shades ready.
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Philosophy: “Don’t be a Dick for a tick”
Read how Ryan got into trading here
Latest posts by Ryan Littlestone (see all)
- The last NFP competition of 2022 - December 1, 2022
- Will this month’s US NFP be a horror show? - October 4, 2022
- US NFP competition – Do you think there’s going to be a turn in the US jobs market? - August 31, 2022