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USD/CAD Runs into June High

USD/CAD Runs into June High

Jamie Saettele, CMT, Sr. Technical Strategist

Daily

USD/CAD Runs into June High

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-Recent updates favored the bearish wedge scenario on the break below 1.2900. The post Jackson Hole rally negates the wedge but not necessarily a broader consolidation that leads to a downside break…eventually. Pay attention to levels within the range until the picture clears. 1.3140s is resistance (hit the last 2 days) and 1.3000 is of interest for support.

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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