USDCAD potential short trade
Fundas: With the dollar under pressure and NAFTA talks continuing to look positive. CAD could see some strength in the near future. A May rate hike may also begin to be priced in here for the CAD
Techs: If sellers are to take charge, the 1.3000 handle may stave off any bullish interest with a slight overshoot. We are looking at possible sell entries if price rejects the 1.2975 to 1.3050 area (need to see rejection first) with an SL above the recent top and a ride to the 1.2700-1.2600 area. Adding to our winners on the way down.
Techs: If sellers are to take charge, the 1.3000 handle may stave off any bullish interest with a slight overshoot. We are looking at possible sell entries if price rejects the 1.2975 to 1.3050 area (need to see rejection first) with an SL above the recent top and a ride to the 1.2700-1.2600 area. Adding to our winners on the way down.
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