The USD/CAD pair continued to bounce around in a very tight range during the Thursday session as the markets that we have no idea where wants to go. Looking at this chart, it is easy to see why a lot of my trading friends have been chewed up over the last couple sessions. We simply have had a significant move higher, but cannot break above crucial resistance. On the other hand, significant support has come into play and we are now stuck in roughly a 100 pip range.
resistance 3:0.8324
resistance 2:0.8272
resistance 1:0.8237
pivot point :0.8185
support 1:0.8150
support 2:0.8098
support 3:0.8063