Mike highlighted the barrier at 1.1000 in USD/CAD today and once again it proved to be a spring for USD/CAD longs.
USD/CAD 30 minute chart
Usually when you see a level tested 3-4, the curiosity of the market gets the better of it and there is talk that leveraged sellers were gunning for it earlier but 1.1005 was the low. With so much on the calendar in the next 48 hours, the pair will either break hard or bounce hard. I can’t see this tepid trading in the 1.1000+ zone continuing.
