USD/CAD Year Open Price at 1.3816 Acting as Resistance
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “Loonie has erased all of January’s rally and stabilized around the year open. The trendline that crosses the May, June, and October lows could provide support near 1.3560. If that breaks, then there is nothing significant until below 1.31. Strength above 1.4016 (2/11 high) would negate near term bearish implications.
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