USDCAD - 1.3000 resistance to top sentiment
​As expected, Monday's minor profit taking proved limited and temporary. Selling pressure was renewed above 1.3000 yesterday with the resulting decline of more than 1 big figure taking USDCAD to the most negative levels traded since September. Intraday signals for sentiment are again approaching oversold extremes, but we continue to look for any profit taking to attract fresh sellers. Therefore, this morning's call is a Sell but leaving room to Sell any Rally to 1.2957, intraday Marabuzo line. The risk is 1.2990 with an immediate target of yesterday's 1.2912 low. A move through that point then exposes sentiment to 1.2891 and 1.2863.
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