USD/CAD May-August Line Represents a Decision Point
Chart Prepared by Jamie Saettele, CMT
-USD/CAD focus remains on the May-August trendline, which is in line with 200 day average near 1.3080. Intraday trend is getting stretched so longs may need to puke into the noted level before any relief can materialize. Weakness below that trendline would trigger a 7 month bearish wedge.
Join Jamie for a free webinar on Friday.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.