Weekly
Chart Prepared by Jamie Saettele, CMT
DailyFX Trading Guides and Forecasts
-We left 2016 with the following comment regarding USD/CAD; “a bullish outlook outcome is possible as long as price is within the channel.” The reaction lower after the test of the November high has dropped into support from the channel median line so upside resumption is possible immediately. The other level to be aware of for support is the 12/14 close at 1.3282. Much below there and I’d consider the potential for USD/CAD to fall apart.
