Technicals: Channel Tightens

  • Resistance: 1.0780
  • Support: 1.0630
  • The USDCAD continues to shape a now established trend channel. In the last couple of days, volatility has died down as the pair?s range contracted to 1.067 and 1.074.
  • Over the next few days, watch for a possible rebound in action as bouts of low volatility are often an indicator of big moves later on.

See Daily Technicals for more details: