Today's pressure may bring a short from just beneath topside resistance near the 1.3200 handle into play. Here is the plan:
1)Entry: Sell 1.3196
2)Profit Target: 8-12 pips
3)Stop Loss: 8-12 pips, depending upon profit target
4)Risk Vs Reward Ratio: 1/1
The USD/CAD is trending higher on intraday timeframes as WTI crude falls beneath the $67.50 handle. A moderate profit target is the best idea against the intraday trend.