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USD/CAD Rally Fails Shy of Month Open Price (1.2439)

USD/CAD Rally Fails Shy of Month Open Price (1.2439)

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Rally Fails Shy of Month Open Price (1.2439)

Chart Prepared by Jamie Saettele, CMT

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

-“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.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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