USDCAD's sharp reversal to deepen
USDCAD remained near the top of a positive Keltner channel for the bulk of yesterday. But in volatile late trading a move to the highest levels since March stalled, and reversed, outside the top of the channel and short of the 200-day moving average.
The resulting setback took prices back to unchanged levels but although the market stalled at Monday’s Marabuzo line.
Management and risk description
A move to 1.3110 means the stop can be lowered to break even.
Entry: Sell in 1.3135/40 area and any rally to 1.3175.
Stop: 1.3214 bid.
Target: 1.3110, 1.3088 and 1.3056.
Time horizon: Intraday, ending London 4pm
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— Edited by Adam Courtenay
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