Good day, traders!

Today I want to highlight a Canadian dollar (6C). On Friday, it closed above the strong volumetric and technical support according to the Daily chart. But hedge funds continue to accumulate their shorts. (Watch)

A large quantity of buyers are going to buy cheap. We see that call volumes are also more preferred. Moreover ask HFTt’s imbalance was created, but met a limit seller. (Watch)

I assume that despite the strong level of support we have more chances to break the level 0,7350 than to bounce from it. The target of the downside movement is at a 0,73 price level.

Have a nice week and a pleasant Sunday!