USD/CAD Inching Towards 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 and wedge resistance (slightly higher) as resistance.
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