The Week Ahead

Holidays on Monday in Canada and US will make for a lower volume start to the week.

The pair continues to channel between 1.4180 and 1.4400. Until one of these levels is broken the back and forth action is likely to continue.

Support within the range is also at 1.4260, 1.4230, 1.4290-1.4280.


Resistance is at 1.4330, 1.4350, 1.4380-1.4400.

A break below a higher support level indicates movement to the next support level. Movement above a lower resistance level indicates movement to the next resistance level.

Over the course of the week if either the high and low of the range are broken, the profit targets are 1.4600 - 1.4620 for a break above 1.4400 and 1.4000-1.3960 for a break below 1.4180.

Cory Mitchell, CMT