USDCAD - Limited upside with Ending Wedge

USDCAD
USDCAD
USDCAD
USDCAD


USDCAD - Intraday - We look to Sell at 1.3185 (stop at 1.3220)

Bespoke resistance is located at 1.3185. Closed the day little net changed. Buying posted in Asia. We have a 38.2% Fibonacci pullback level of 1.3173 from 1.3433 to 1.3013. A sequence of weekly higher highs and lows has been posted. There is scope for mild buying at the open but gains should be limited. The rally is close to an exhaustion count on the intraday chart.

Our profit targets will be 1.3000 and 1.2710

Resistance: 1.3185 / 1.3221 / 1.3300
Support: 1.3012 / 1.3000 / 1.2708

Trade active:

In the interest of money management, we look to move the stop to 1.3185. No profit has been taken