USD/CAD – Pay Attention to 1.3300
Chart Prepared by Jamie Saettele, CMT
-Recent updates have noted that “USD/CAD upside acceleration is possible (consolidation could break either way), especially considering the response from 1.2830s. Moves off of this price produced 2 trending moves in 2015.” A positive bias is warranted whilst above 1.2834 but be aware that trade since the May low could compose a wedge that gives way to the next down leg within a bearish cycle from the January high.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.