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USD/CAD Punches Through Resistance

USD/CAD Punches Through Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Punches Through Resistance

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 has broken through resistance, indicating potential for the long term bull move to reassert. Watch 1.2350 for support.

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

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