USDCAD bounce likely to extend
Like all the other markets, last week's price action in this pair was dominated by Friday's turmoil from the Brexit shock. Before that, the market had gradually extended the previous week's upside rejection, and USDCAD consolidated below the 13-day moving average to test the lower end of the Keltner channel.
Management and risk description
A move in USDCAD to 1.3100 means the stop can be raised to breakeven or better.
Entry: Buy in 1.3000/10 area and any dip to 1.2886
Stop: 1.2768 offered
Targets: 1.3100, 1.3189 and 1.3287
Time horizon: This week, ending Friday, July 1, 1 p.m. London time
USDCAD second up week
— Edited by John Acher
Non-independent investment research disclaimer applies. Read more