We’re into another well used resistance point between 1.1120/25 after the bounce from 1.1053 and we could be on the way to another go at the 1.12 level should we put some leg work in.

USD/CAD h4 chart 26 02 2014

USD/CAD h4 chart

We may see some minor resistance in the 1.1135/40 area but the run to 1.12 should be pretty easy after that.

Just a quick look at the order boards and things are pretty light on the corp front. There are some offers here around 1.1020 but they’ve possibly been filled now. Specs are still offering at 1.1140, 50, 70, 90 and join the corps at 1.1200.

Bids are at 1.1075 with specs at 1.1060 down to 1.1000