USD/CAD Rally Fails Shy of Month Open Price (1.2439)
Chart Prepared by Jamie Saettele, CMT
-“USDCAD rolled over after reaching a high volume level (3/18 close) at 1.2559. A short term double top yields a 1.2171 objective…1.2160/75 is still possible range support. 1.2430 may provide resistance.”
-“USDCAD found low today (6/18) at a 10 month trendline. Respect the range as long as the trendline holds.” The 6/24 high was 1.2422…just shy of the cited 1.2430 level. Near term risk is again lower towards the 10 month trendline.
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