Important implied volatility levels for USDCAD, EURCAD, GBPCAD and CADJPY ...Middle East

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USDCAD: 1.3837 (resistance) - 1.3760(support)

GBPCAD: 1.8700(resistance) - 1.8570 (support)

Looking at the EURCAD specifically, the pair is currently rejecting from a huge multi-year level of resistance around the 1.6150, with decent confluence with the implied volatility level as well. Big level to watch for those trading the EURCAD.

These levels on their own are quite handy, but when we combine them with technical analysis tools like pivot points, or fibs, or psychological levels, you can identify potential entry, take profit, or stop-loss levels with more increased confidence.

What's unique about using implied volatility is that it provides a totally objective and data-dependent price range to complement your subjective technical analysis.

This article was written by Arno V Venter at investinglive.com.

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