Technicals: USDCAD is the Pair to Range Trade

  • Resistance: 1.0780
  • Support: 1.0630
  • The USDCAD flirted with the resistance early today as it reached 1.077. The pair then ricocheted lower toward the building support of the trend channel.
  • For price action early next week, look for the USDCAD to test the bounds of its now mature and obvious channel. Should there be a big fundamental surprise, it could mark the end of easy range trading for this pair.

See Daily Technicals for more details: