As I’ve said many times, this is not a pair I trade at all but some of the information I’ve been reading has proved to be very accurate so you may do with it as you please;
- Large macro players have been slowly exiting short positions over last 6 weeks
- Large bids have been reported over the last week around .9650/75 area
- Short term option structures should ensure some more range trading below 1.0000
- A clean break above 1.0000 will set off some large option-related buying
In other words, the info seems to be saying that we should range trade .9650/1.0000 and get long on a break higher (though it is the Loonie!).
