USDCAD Reverses Wednesday’s Gains at Trendline
Prepared by Jamie Saettele, CMT
The USDCAD is testing former support (now resistance) for the 4th consecutive day. The market has probably accumulated a large number of shorts and corresponding stops above 9860. As such, a breakout strategy is warranted on trade above the 9/26 high (9860) against 9780 and towards 9930. Failure to exceed 9860 keeps the range intact with the listed levels as support.
LEVELS: 9675 9725 9780 9860 9912 9930
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