USD/CAD Runs into June High

Daily

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.

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