22:03 UTC
Range-bound, recovering from higher low · RSI 63 · price 1.41883
1.3930–1.4300 band; higher low above August base.
USDCAD has held a broad 1.3930–1.4300 band since the August base at 1.3732. The early-November pullback found a higher low at the nov low of 1.3929, close to the 61.8% level of the Aug–Oct fib. Friday's US-Canada jobs divergence and Tuesday's hot US CPI lifted price back above the EMA20 and the ema50 at 1.4058, with the EMA20 crossing back over a flattening EMA50. RSI has recovered to 62.6 and ATR is expanding, while price presses the nov 10 high at 1.4210 with the oct highs at 1.4299 as the range cap.
Support: 1.4137, 1.4058, 1.3929
Resistance: 1.4210, 1.4299
What it said to watch
- Daily close above the oct highs at 1.4299 would break the quarter's range to the upside
- A close back below the nov 6 high at 1.4137 would signal the jobs/CPI breakout fading
- Losing the ema50 at 1.4058 reopens the nov low and the higher-low trendline
- Fed's Bowman and Paulson speak in ~90 min, followed by Thursday claims, Friday US PPI and Canada CPI on Nov 16; any of these could shift this read