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USD/CAD – Pay Attention to 1.3300

USD/CAD – Pay Attention to 1.3300

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD – Pay Attention to 1.3300

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-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.

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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