USD/CAD Rolls Over at a Slope Confluence
Chart Prepared by Jamie Saettele, CMT
-“USDCAD has turned up from just below 1.1931 (low was 1.1919). The break above the median line opens up a run on former support from 1.2350 to 1.2447.”
-USDCAD rolled over after reaching a high volume level (3/18 close) at 1.2559. Today’s (6/2) pullback has reached the mentioned median line. Given near term momentum, additional downside may be in store into 1.2200/50.
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