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USD/CAD Basing for Next Move Higher

USD/CAD Basing for Next Move Higher

2016-04-07 18:24:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Basing for Next Move Higher

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent updates noted that “today’s (3/31) key reversal along with divergence (RSI) at warns of a low. The implication, especially when considering the presence of long term support under price, is bullish.” USD/CAD followed through on the 3/31 reversal and trading focus is higher although several days or more of sideways price action may be in store in order to complete a basing pattern from the 3/18 low.

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