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Jun 27 - 06:12 AM
USD/CAD - FX Traders Must Consider USD/CAD Longs Here
First appeared on eFXplus on Jun 27 - 04:40 AM
  • Long liquidation has fuelled a 3.2% USD/CAD drop in June from 1.3565 May 31
  • Big move is out of sync with option vols which remain low, 1-mth 5.4
  • USD/CAD reaches major techs. 200-WMA 1.3121. 61.8% Sep-Dec 18 rise 1.3120
  • High probability major low close to current levels. Yesterday's low 1.3108
  • Option barriers 1.3100, 1.3050 and 1.3000. Levels last seen start Feb
  • Longs with stops below 1.3000 offer 3.5-1 return with t/p near May peak

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Source:
Refinitiv IFR Research/Market Commentary

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