(1,0192) The USD/CAD confirmed another strong closing also last night after a session of consolidation. Possible further s/t upside potential, especially based on the daily chart!! The indicators of the daily chart have now turned above the line and this morning also those of the s/t ones are in positive territory supporting further strength. We have however overbought conditions while also showing potential negative reversals and this could limit the upside favouring another drop. The move up did not yet form specific divergences but it could be just a question of time. We did not yet try a short position; we prefer remaining on the sideline waiting for a possible further overshooting. We sell however a 1,0230 overshooting putting a stop above 1,0295!!
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