USDCAD takes a breather
The USDCAD has raced greater in buying and selling in the present day and within the course of actually had restricted corrective worth motion. There was a quick consolidation after the better-than-expected GDP, but it surely has been racing again to the upside over the previous couple of hours. Nevertheless, the final 20 minutes have seen a rotation to the draw back. The patrons are taking a breath.
What subsequent?
When the market developments, I like to observe the 38.2% – 50% correction zone of the final development leg. That leg began at 1.3536 and prolonged as much as 1.3645. The 38.2% retracement is available in at 1.36037 whereas the 50% retracement is available in at 1.35909. That space between 1.35909 to 1.36037 is the correction zone. If the worth can maintain that space, the patrons stay in agency management.
