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USD/CAD at a Bullish Median Line; 2009 High is at 1.3062

USD/CAD at a Bullish Median Line; 2009 High is at 1.3062

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 has broken through resistance, indicating potential for the long term bull move to reassert. Watch 1.2540/60 for support.” The cited support was never reached but the bull trend has reasserted. 11 year highs aren’t far off. The 2009 high is at 1.3062 (just below the 127.2% extension of the March-May range, which is at 1.3083).

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.