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USD/CAD Under October Low; Heads Up on 1.2560s

USD/CAD Under October Low; Heads Up on 1.2560s

2016-04-12 19:08:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Under October Low; Heads Up on 1.2560s

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Today’s plunge negates recent evidence (key reversal and follow through, RSI divergence) that USD/CAD was basing for another move higher. The drop has extended below a well-defined horizontal level from the March 2015 high and October 2015 low at 1.2830. The next level of interest on the downside is probably the June 2015 high at 1.2560.

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