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USD/CAD Support Works; Trouble in the Low 1.3300s

USD/CAD Support Works; Trouble in the Low 1.3300s

Jamie Saettele, CMT, Sr. Technical Strategist


Chart Prepared by Jamie Saettele, CMT

DailyFX Trading Guides and Forecasts

-“USD/CAD continues to sport lower wicks at support but range is contracting as the latest rally failed right at the high from 2 weeks ago. I still ‘lean’ towards the upside as long as the support line holds.” The support line was good enough for the 2nd best 2 day rally of 2017 (after 1/18 and 1/19). 1.3300ish is former channel support and probably poses problems for bulls though.

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