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USD/CAD Influenced by Angle Resistance

USD/CAD Influenced by Angle Resistance

Jamie Saettele, CMT, Sr. Technical Strategist

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Chart Prepared by Jamie Saettele, CMT

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

-The most recent note remarked that “USD/CAD has ripped from the March high. If something bearish is underway from the long term Fibonacci level (61.8% of 2007-2002 decline), then resistance probably needs to come in near 1.33 (angle of previous downtrends).” USD/CAD found resistance near the mentioned level, so a multi-month topping process is still possible.

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