2 of Wednesday’s upside targets were met as Tuesday’s sharp turn in sentiment extended higher. But in volatile, late trading those 2 week highs, above 1.3100, were sharply rejected. In fact USDCAD reversed more than a big figure that that fresh decline – emphasising the relevance of the Marabuzo line – is now expected to extend.
We look to Sell in 1.3015/20 area and on any 1.3048 rally.
Stop is 1.3092 bid
Targets 1.2994, 1.2962 or even 1.2939
Close- 4pm London time