USD/CAD Retraces Prior Day’s Drop
Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
-USDCAD is below trendline support and one has to wonder whether or not the rate is going to come back to test the breakout level near 1.0650 although 1.0736/69 is a possible bottoming area.
-The dip under 1.0909 could also complete a flat correction from the January high.
LEVELS: 1.0800 1.0850 1.0880 | 1.0941 1.0978 1.1025
--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.