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USD/CAD's volatility soars

We see an injection of volatility in the USD/CAD pair that could present a trade for opportunistic readers.

The rally in today's trading has expanded the 2-standard deviation bands for several consecutive hours beyond the maximum width seen in a week of trading. Moreover, the same 1hr charts show recent close prices printing above the 50-period EMA, a bullish condition that should it persist, would help keep prices above the SAR indicator.

A change of direction in the parabolic SAR after two sessions of upward price movement in the USD/CAD would imply longs are taking profit. Risks exist as the volatility and the vibrant up thrust in price extend to higher time frames.

A choppy Wall Street closed in the red

With interest rates and timings of a Fed hike still the main driver at the moment in equities, despite it being earnings season, it was a choppy session and mixed on Wall Street in the afternoon.
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NZD/USD downside headed towards hourly RSI (14) 30

NZD/USD is currently testing the downside and 0.67 the figure, with a high of 0.6744 in the US shift and a low of 0.6698.
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