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USD/CAD 1.1025/50 Still in Focus

USD/CAD 1.1025/50 Still in Focus

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD 1.1025/50 Still in Focus

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-The manner in which USDCAD turned up from the June low (near long term trendline support) indicates resumption of the long term bull trend.

-The current level may inspire consolidation but near term trend is higher as long as price is above 1.0800 towards 1.1026/52 (Fibonacci and late April high).

--Trading ideas are availabletoJ.S. Trade Desk members.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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