– Volumes picked up on Wednesday, with CAD activity registering a top ten day for the past year.
– Investor attraction to the AUD is diminishing. Volumes for AUD/USD and EUR/AUD are declining and risk is increasing for a pause in the bullish AUD run.
– The high volume “doji” candle in USD/CAD and lower volumes in EUR/CAD warn of near-term exhaustion in the recent bullish CAD story.
– The recent trend of higher EUR/USD volumes on bearish days continued yesterday as investors endorse weakness.
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Barclays