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USDCAD Stalls at December Highs

USDCAD Stalls at December Highs

Jamie Saettele, CMT, Sr. Technical Strategist

Weekly Bars

eliottWaves_usd-cad_body_usdcad.png, USDCAD Stalls at December Highs

Prepared by Jamie Saettele, CMT

Like everything else, USD weakness should be viewed as countertrend in USDCAD and traders ought to look to identify support in early June. 10325 and 10265 are levels to keep in mind. Notice the 2 potentially powerful 2 year inverse head and shoulders pattern. The neckline is at about 10565 this month.

LEVELS: 10207 10265 10325 10445 10523 10657

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