Sell on a level breakthrough of 1.3227 with 1.3150 target. Stop loss = 1.3277.
Reason for the trading strategy
The oil prices have responded positively to the publication of statistics on the US oil and petrochemical stocks last week. According to the US Department of Energy, oil inventories rose by 3.88 million barrels, but gasoline stocks fell by 4.526 million, and the distillate inventories declined by 1.119 million barrels. As expected, the Bank of Canada has maintained its benchmark interest rate unchanged at 0.5%. The news support the Loonie.