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USD/CAD Close to a Low?

USD/CAD Close to a Low?

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Close to a Low?

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to USD/CAD comments. “USD/CAD is down for its 9th consecutive week (for the 5th time ever…all other instances were at the end of bear moves…this one is from a top so I’m unsure what to think). The final leg of the bull, from the October 2015 low of 1.2832, has nearly been retraced. This level is also the March 2015 high. The level is one to pay attention to for a rebound.”

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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