I haven’t read any other analysis but USDCAD intrigues me from a technical analysis standpoint as the Daily is fast approaching oversold (falling knife velocity) -RSI, CCI, Sto— every time since August has gotten good pop to upside. We have found a little support at previous month pivot @ 1.3280. Although it is possible could potentially dip lower near term I couldn’t honestly sell here. I would observe pull back if breaks above resistance @ 1.3320 could go 1.3380/1.3400. Is the currency pair half empty or half full? Since USD has been strong with rate hike looming 12-14 plus with relatively good news out of Canada might be better to find different currency pair until market gives clear indication.




One thought on “USDCAD Indifference”

  1. JohnA says:

    I forgot to mention my analysis was done/uploaded just prior to market open on Sunday and could not short 1.3290 level. We did get a quick oversold pop up to 1.3356 area before heading south again.

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