Although bought at higher levels yesterday, price action was muted in USDCAD. The market tested the 13 day mvg avg tentatively but failed to breach that important point. It is that factor combined with the underlying negative bias highlighted in this week's report that keeps our technical focus on the downside.
Sell in .1.3137/42 area and any 1.3162 rally
Stop is 1.3208 bid.
Targets;1.3114, 1.3089 and 1.3063/65.
Closing 4pm London time.