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USD/CAD Hits First 20 Day High Since January Top

USD/CAD Hits First 20 Day High Since January Top

2016-05-10 17:30:00
Jamie Saettele, CMT, Sr. Technical Strategist
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USD/CAD Hits First 20 Day High Since January Top

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-USD/CAD reversed sharply last week. The low is at (exactly at) former channel resistance, which turned into support exactly one year ago (in May 2015). USD/CAD just registered its first 20 day high since the January top. Initial 20 day highs are subject to drawdown but watch for support on a pullback starting at 1.2830.

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

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