FOREX: FX OPTION EXPIRY

• RES 3: 149.55 - High Mar 22 (cont)
• RES 2: 147.74 - High Jan 15 and bull trigger (cont)  
• RES 1: 146.53 - High Aug 6 
• PRICE: 143.70 @ 16:14 GMT Nov 08
• SUP 1: 143.39 - Low Nov 07
• SUP 2: 142.23 - Low Jul 02
• SUP 3: 140.21 - 1.236 proj of Mar 22 - Nov 1 ‘23 - Jan 15 price swing    

Prices fell further Thursday, extending the recent pullback. The return lower at the start of this week has culminated in a break of 143.57, marking both the Jul 17 high on the continuation contract as well as the Oct 22 low. For now, the 50-dma tops out at 144.32, and marks first resistance. A continuation higher would open 146.53, the Aug 6 high (cont) and a bull trigger. 

• Flattener crossed late Friday at 1645:30ET, DV01 $322,000
• -8,900 TUZ4 102-23.88, sell through 102-24.38 post time bid vs.
• +3,700 UXYZ4 113-16, post time offer 

• RES 4: 1.4179 2.0% 10-dma envelope  
• RES 3: 1.4000 Round number resistance
• RES 2: 1.3977 High Oct 13 and a key M/T resistance  
• RES 1: 1.3959 High Nov 1 / 6
• PRICE: 1.3910 @ 16:29 GMT Nov 8
• SUP 1: 1.3836/22 20-day EMA and a key S/T support / Low Nov 6 
• SUP 2: 1.3744 50-day EMA 
• SUP 3: 1.3611 Low Oct 8 
• SUP 4: 1.3567 Low Oct 7

USDCAD reversed course Wednesday and recovered from Tuesday's low. The trend outlook is unchanged, it remains bullish. Attention is the key resistance at 1.3946, the Aug 5 high. This hurdle has been pierced, a clear break would strengthen the uptrend and open 1.3977, the Oct 13 high and a key medium-term resistance point. Initial firm support to watch lies at 1.3836, the 20-day EMA.