Oil hit the wall once again today and has dropped over three percent, to trade at $77.70, heading into the New York close. This factor combined with a risk off environment has pushed the USDCAD past the weekly high to challenge major resistance at 1.0353. If this level breaks we could see a test of the monthly high at 1.0440. Support begins at the day lows at 1.0230.
Res 1.0350 1.0450
Sup 1.0230
Plan: On hold until the Asian open. Look for a one hour break of res at 1.0353 for a press to 1.0450.
