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USD/CAD Ends June Near Several Trendlines

USD/CAD Ends June Near Several Trendlines

Jamie Saettele, CMT, Sr. Technical Strategist


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.” USDCAD ends June near resistance from 2 trendlines. Respect downside risk as long as price is below the June high.

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

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