– Overall volumes recovered to above the average levels for the past 12 months.
– Commodity currencies such as NZD, AUD and CAD were the most active, reaching their 90th percentile or better.
– AUD/NZD posted a basing candle that attracted more than twice the prior day’s volumes. This signals investor appetite to lock in profits on shorts.
– Downside breaks in USD/CAD and GBP/CAD saw a jump in investor activity that points to further weakness.
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Barclays