There is a very strong daily support level where the USDCAD is currently trading. I consider this to be a high probability area to get some bullish action at least up to 1.34 and possibly to test the daily highs up at 1.3750 again.
There is also a really nice Fib cluster lining up right at this MAJOR daily support level giving us great conformation about the validity of this important zone.
NB!! Even though this is a great technical area to look for buying opportunities, please keep in mind that the US interest rates and FOMC press conference come out Wednesday 14th and could cause unexpected market moves. So make sure stops are locked and loaded if you trading this area.
There is also a really nice Fib cluster lining up right at this MAJOR daily support level giving us great conformation about the validity of this important zone.
NB!! Even though this is a great technical area to look for buying opportunities, please keep in mind that the US interest rates and FOMC press conference come out Wednesday 14th and could cause unexpected market moves. So make sure stops are locked and loaded if you trading this area.