USD/CAD Still Trading on Former Resistance Levels
Chart Prepared by Jamie Saettele, CMT
-The last update noted that “USD/CAD has topped and is heading lower. 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.” The only new observation of note is that 1.3350-1.3450 (August and September highs) is former resistance and may provide support for a bounce/consolidation.
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