USD/CAD Follows Through on Daily Reversal at Major Support

Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.

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