In line with yesterday's bearish call, Wednesday’s upside rejection and a capping by the 13 day mvg avg translated into more significant downside. USDCAD was sold through .9900, to 7 week lows and to a test of the 100 day mvg avg. The lows were not entirely maintained and signals for sentiment are still not strong but sellers are more prominent currently than buyers and so this morning’s call is a Sell but leaving room to also Sell at .9964, the 13 day mvg avg. The risk is .9991, yesterday's high, with downside objectives at .9894, yesterday's low, .9869 or even .9847, the 7 week base.
Capped by Key 13 day Average
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