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USD/CAD Trade is Quiet after Stab at August High

USD/CAD Trade is Quiet after Stab at August High

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

-USD/CAD is relatively unchanged since NFP (Canada’s jobs data was also released that day). Trade since then has seen slow drifts in both directions with the recent run higher stalling near the August high (1.3352). The dominant trend is still up but a break under 1.3200 is needed in order to suggest even short term downside potential towards 1.2950.

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.

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