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USD/CAD Dips from Channel Resistance

USD/CAD Dips from Channel Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Dips from Channel 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 1.2540/60 for support.

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

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