USD/CAD Consolidates Under Uptrend Resistance
Chart Prepared by Jamie Saettele, CMT
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-“USD/CAD is holding its breakout but be aware of an uptrend line just above 1.40 as a potential stalling point. At the same time, support may be just below 1.3800 (also a slope line). It’s worth noting that the 2004 high is 1.4003.” USDCAD has pulled back from 1.40. 1.3750 could provide support but weakness below there would start to suggest more of a topping process.
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