Despite general USD weakness, flows towards the Loonie have been even more depressed, allowing the exchange rate to create an hourly bullish structure…
However, given the tepid extension above the previous swing high at 1.3345, the market runs the clear risk of establishing in a 1.3290-1.3350 range.
There is a significant number of hurdles on the way up as reflected by the multiple horizontal levels of resistance created on the way down as the macro trend remains clearly down.
However, given the tepid extension above the previous swing high at 1.3345, the market runs the clear risk of establishing in a 1.3290-1.3350 range.
There is a significant number of hurdles on the way up as reflected by the multiple horizontal levels of resistance created on the way down as the macro trend remains clearly down.
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