USD/CAD: Shorts still in play

My short position from yesterday is still in play although well out-of-the-money. I remain bearish and am reluctant to change my view, so close to recent highs at 1.1260. On the other hand, I need to be sensible and accept that the bulls have been in control for quite a considerable time.

I’m on a watching brief here and am also watching pairs like CAD/JPY closely, given the big moves in the oil market.

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