Скачать или смотреть Daily Video: USD/CAD—The Loonie Continues its Tight Trading Pattern

The USD/CAD has lost quite a bit of momentum below the technical resistance of 1.1672. This levels is also very near the key technical pivot of 1.16. Please refer to the below daily MT 4 chart.

Near term resistance is lining up at 1.1672. A daily close above this level will challenge 1.1745. Should the Dollar lose ground, then we have the first support handle lining up at 1.16. A daily close below this level will challenge 1.1560. A break below here targets 1.1490 and lower.

The Loonie is trading in a very tight and narrow trading range with no signals either way. In other words, there are no definitive long or short trades at this time. My strategy is flat as I am waiting on a trading opportunity to develop.