Sell on a level breakthrough of 1.2202 with 1.2100 target. Stop loss = 1.2260.
Reason for the trading strategy
Last week, crude oil reserves in the US fell by 2.7 million barrels, while they were expected to decline by 1.6 million barrels. The news has enabled the WTI oil prices to keep the level of 60 dollars per barrel. J. Yellen's soft rhetoric in relation to the US monetary policy has provided additional support for the Loonie.