– Volumes picked up on Tuesday to reach median levels for the past year.
– USD/CAD failed to sustain a move to new highs and the resulting Doji candle along with the highest volume seen so far in H2 suggests that investors were selling into the uptick. Risk is that a top is being formed below parity.
– The narrow trading range and low close in USD/JPY was accompanied with high volume. This suggests that the market was overstretched on the upside range break and signals consolidation before resuming higher.
– The volume increase in EUR/USD on yesterday’s downside break signals further weakness within range.
Click here to read the full report: Technical Research
Barclays Capital