USD/CAD Follows Through on Daily Reversal at Major Support
Chart Prepared by Jamie Saettele, CMT
-I wrote last Thursday that “I feel like giving up on USD/CAD so a low is probably close (learn to read yourself)…the next area of interest is probably mid-1.2400s.” A few trading days later and USD/CAD has already erased the prior week’s decline. The support line that held was former channel resistance, which was also support one year ago. Focus is higher.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.