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Short

USDCAD SHORT: Technical

FX:USDCAD   U.S. Dollar/Canadian Dollar
USDCAD             is overstretched to the upside.

On the 4H chart, it is outside 800 period Bollinger Bands .

Furthermore, there is divergence towards the 1.34 level, suggesting momentum of the upward move is slowing.

I expect a pullback on this pair, especially as oil             appreciates back to the $50 level, to 1.32.

Below 1.32, strong support should be expected at 1.30.

Risks, of course, are a hawkish FOMC statement (largely priced in) and a Trump win (not priced in).
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