Key averages support USDCAD
Initially, last week's expected lower levels proved shallower than expected. Instead, buyers emerged below the 13-day moving average and 1.3100. The renewal of demand then used that line as a platform for gradual gains that broke through the 200-day MA on Friday – the first time since March.
Management and risk description
A move to 1.3368 means the stop can be raised to break even.
Entry: buy in 1.3260/70 area and any 1.3214 dip.
Stop: 1.3132 offered.
Target: 1.3368, 1.3444 or even 1.3553.
Time horizon: this week, endingoctober 14 at 1200 GMT.
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— Edited by Michael McKenna