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USD/CAD Tests an Important Median Line

USD/CAD Tests an Important Median Line

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Tests an Important Median Line

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-“The USDCAD breakdown from a 2 and a half month topping pattern could ‘kick-off’ a much larger decline but near term focus is on early congestion from 1.1931 to 1.2046.” USDCAD is testing resistance a key median line as resistance. A break above would warrant a more constructive short term view towards former support near 1.2380.

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