Tuesday’s report highlighted underlying positive sentiment but a lack of a buy signal. That proved justified as our Buy at 1.3073 was virtually the low of the day. USDCAD still found further selling at the end of the day in a move that took prices to test the 13 day line. That important point was only marginally breached but, despite minor gains in Asia, is enough to leave our intraday technical studies negative.
We look to Sell in 1.3075/80 area and at 1.3105
Stop is 1.3137 bid
Targets, 1.3040, 1.3020 and 1.3000
Closing 4pm London time