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USD/CAD – Next Level Looks Like Mid-1.2800s

USD/CAD – Next Level Looks Like Mid-1.2800s

Jamie Saettele, CMT, Sr. Technical Strategist

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Daily

Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“Top for the move was 1.3388, just above the 61.8% of the drop from 12/28. Today’s low is at the 200 day average. USD/CAD is stuck between 2 big technical levels. Ideally, a break of one of these levels will lead to a directional move.” Loonie has broken below the 200 day and near term focus is on the mid-1.2800s (well-defined horizontal level for several years).

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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