USDCAD Support Still Closer to 10300
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. 10365 (5/31 high) was reached last night and defended so far. 10325 and 10265 are levels to keep in mind as well. As for resistance, a potentially powerful 2 year inverse head and shoulders pattern is in the works and the neckline is at about 10565 this month.
LEVELS: 10207 10265 10325 10445 10523 10657
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