We’re inching towards resistance and offers at 1.0980. The Wednesday high was 1.0984 and a barrier at 1.1000 is going to have offers protecting it. There’s further option related selling to be done at 1.1010 but there’s stops mixed in there too.
Bids are thickening up from the corps in the low 1.0905/10 area with more at 1.0875/85
I’m still watching USD/JPY to see how it tackles 102. If we get a strong push above then we could see the Loonie have a crack at 1.10. At this stage of the day and week I’m thinking it might be a push too far on it’s own but if we do I’m going to think about a short. I’ll be weighing up whether I’d want to short and hold into the weekend though.
