USDCAD Technical Analysis – 1 hour Timeframe
On the 1 hour chart, we can see that we have a downward trendline and the 61.8% Fibonacci retracement level adding some extra resistance to the 1.3680 level. This is the area where the sellers will keep on piling in from to position for a drop, while the buyers will want to see it failing to gain more conviction for an extension to the upside. The Horizontal ray define the average daily range for today.
Upcoming Catalysts
Today we get the latest US Jobless Claims figures, while on Friday we conclude the week with the Canadian GDP and the US PCE report.
On the 1 hour chart, we can see that we have a downward trendline and the 61.8% Fibonacci retracement level adding some extra resistance to the 1.3680 level. This is the area where the sellers will keep on piling in from to position for a drop, while the buyers will want to see it failing to gain more conviction for an extension to the upside. The Horizontal ray define the average daily range for today.
Upcoming Catalysts
Today we get the latest US Jobless Claims figures, while on Friday we conclude the week with the Canadian GDP and the US PCE report.