The gradual improvement from Friday’s low continued Tuesday. Bought at higher levels for a 2nd day in a row, USDCAD tested Thursday’s Marabuzo line – maintaining prices above the 13/100 day mvg avg area. Until/unless last week's top is exceeded our technical studies cannot be strongly positive. Nevertheless, buying on intraday setbacks places our focus on the topside despite the failed spike higher in Asian trading.
So we Buy in 1.3120/25 area and any 1.3093 dip
The stop is 1.3060 offered
Targets - 1.3141, 1.3171 and 1.3198
Closes 4pm London time