(1,0345) The USD/CAD confirmed a test of the 1,03 area that however limited the decline favouring already a small rebound. Last night it managed to form a small positive day reversal but only a daily closing tonight above 1,0340 will confirm a s/t bottom. The indicators of the daily chart are still well negative but those of the s/t ones are returning above the line supporting a rebound/ correction. An hourly closing above 1,0350 will favour a possible extension of the rebound toward the 200 hours line, now found at 1,0417. Already the hourly closing above 1,0340 confirmed a s/t bottom. We closed therefore our shorts for now here at 1,0345 and wait for a decent extension of the correction to sell again, especially close to the 200 hours line!!
Read the full report: USDCAD 09.13
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