USDCAD failed to build upon Tuesday’s powerful gains yesterday. Instead profit taking above 1.3300, and at overbought extremes, dominated the day’s price action. The resulting decline took the currency pair back to Tuesday’s Marabuzo line. The fact that that point held compromises negative sentiment to a degree but our technical signals are left bearish.
so we look to sell in 1.3230/35 area and any 1.3266 rally
Stop is 1.3298 bid.
Targets- 1.3201, 1.3170 or even 1.3127
Closed 4pm London time