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USD/CAD Plunge Support is Nearby

USD/CAD Plunge Support is Nearby

2016-04-21 19:45:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Plunge Support is Nearby

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-There is no change to recent USD/CAD comments. “The recent plunge negates evidence (key reversal and follow through, RSI divergence) that USD/CAD was basing for a 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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