Looking out for a possible buy trade on this pair on the 1H charts.
On the technical front, seeing a nice Support Resistance area from where the markets have bounced to the north. If we get a decent retrace coupled with a strong buy signal it would be a nice trade.
Good R:R on this with approx 90pips to first target or 130 pips to second target. Could be a good trade to scale out on while running trade. Take some profit on first target and let the rest run.
On the fundamental front we are keeping an eye on President Biden’s speech at 3pm NZST for the US Dollar sentiments & on Fed Chair Powell to Testify. For the Canadian Dollar we will keen am eye on Bank of Canada rate statement & Overnight rate coming up in the near future.
