The option for today is a series of articles about binary options in cooperation with uTrader broker. Every day we present the best PUT or CALL options for a selected financial instrument along with its current technical analysis.
As a result of last week’s steady gains, USDCAD reached its local resistance at 1.2790, which coincided with 50% of the Fibonacci correction from earlier gains, where yesterday the first supply reaction occurred. Permanent rejection of this zone could open the way to declines even to level 1.2670. In the short term, therefore, it is worth considering the PUT option on this instrument.
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