USD/CAD Turns Down before Proposed Wedge Resistance
Chart Prepared by Jamie Saettele, CMT
-The trend has been higher since the May lows but the overlapping nature of the advance warns that the entire move is corrective (wedge aka diagonal triangle). The May-August trendline, which held earlier this month, is the trigger line for a pattern breakdown. In the interim, be aware of the late March high at 1.3296 as a pivot.