USD/CAD Resistance Turned Support May Provide Resistance Again
Chart Prepared by Jamie Saettele, CMT
-The most recent USD/CAD updated noted that “trade has seen slow drifts in both directions. 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.” 1.3200 was never sniffed and Loonie has broken out. Resistance could reside near 1.3700 (slope) but it would be of the uptrend variety anyway.
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