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USD/CAD Hits First 20 Day High Since January Top

USD/CAD Hits First 20 Day High Since January Top

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

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

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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