USD/CAD Breakout; Interim Resistance Near 1.3340
Chart Prepared by Jamie Saettele, CMT
-Well, that didn’t work. I wrote last update that “the manner in which USD/CAD turned down from the well-defined 1.3140s warrants bearish consideration. The May-August trendline has held but pay attention to 1.3000 for resistance. 1.2655 is of interest in the event of a break.” USD/CAD has gone straight up since the trendline hold and broke through a short term trendline today. In other words, evidence supports the idea that the move is higher…not lower.
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