USDCAD - Intraday - We look to Buy at 1.3251 (stop at 1.3216)
Price action has formed an expanding wedge formation. Bespoke support is located at 1.3251. The 161.8% Fibonacci extension is located at 1.3311 from 1.3018 to 1.3199. The conflicting views have resulted in the immediate outlook being hard to interpret. The selloff has posted an exhaustion count on the intraday chart. Preferred trade is to buy on dips. Intraday signals are far from strong.
Our profit targets will be 1.3483 and 1.3500
Resistance: 1.3345 / 1.3492 / 1.3785
Support: 1.3251 / 1.3229 / 1.3200
Price action has formed an expanding wedge formation. Bespoke support is located at 1.3251. The 161.8% Fibonacci extension is located at 1.3311 from 1.3018 to 1.3199. The conflicting views have resulted in the immediate outlook being hard to interpret. The selloff has posted an exhaustion count on the intraday chart. Preferred trade is to buy on dips. Intraday signals are far from strong.
Our profit targets will be 1.3483 and 1.3500
Resistance: 1.3345 / 1.3492 / 1.3785
Support: 1.3251 / 1.3229 / 1.3200
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