USD/CAD Intraday: consolidation in place

Feb 4, 2025 12:12 PM

short positions below 1.4540 with targets at 1.4365 & 1.4310 in extension.

Pivot: 1.4540
Our preference:
short positions below 1.4540 with targets at 1.4365 & 1.4310 in extension.
Alternative scenario:
above 1.4540 look for further upside with 1.4630 & 1.4710 as targets.
Comment:
as long as 1.4540 is resistance, look for choppy price action with a bearish bias.
Supports and resistances:
1.4710
1.4630
1.4540
1.4425 Last
1.4365
1.4310
1.4260

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