USD/CAD Channel Confluence Proves Too Much Again
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDCAD has pulled back from the line that crosses the July and August highs. The level is reinforced by upward sloping channel resistance.
-A break above the latter channel could trigger a significant move higher.
-An early month low is in place at 1.0397. Weakness below there would shift focus to channel support.
Trading Strategy: Flat
LEVELS: 1.0397 1.0420 1.0450 | 1.0493 1.0515 1.0547
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