Although our weekly view for USDCAD is a bullish one, price action has been trapped over the last 3 days. Buying interest has been steady at the 13 day mvg avg but the upside has been limited around a Marabuzo line created Nov 20th. This means that any immediate analysis has to be made with caution but it is yesterday's downside rejection that we look for today’s technical guidance.
So we look to Buy in 1.3245/50 area and any 1.3217 setback
Stop is 1.3186 offered
Targets- 1.3273, 1.3298 or even 1.3319
Closed 4pm London time