We are seeing increased volatility in the FX space and even though the Ozzie Canadian pair traditionally has low volatility we can see the change here as well. The better strategy from my point of view here is to reduce leverage and increase stop levels so that we avoid wild swings in the market which are inevitably coming.

We had a large impulsive move down on April 27th and over the coming weeks I am expecting this impulsive move to be retested in the 0.973 area before continuing with the down trend. Target of 0.955 for July:

4 hour chart with candlestick projection:

Weekly chart of the longer term trend

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