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USD/CAD Technical Outlook: Chart at Support

USD/CAD Technical Outlook: Chart at Support

Paul Robinson, Strategist

USD/CAD Technical Highlights:

  • USD/CAD sitting on trend support
  • Could swing higher from here
  • Break of support may usher in bearish sequence

USD/CAD has pulled back into support via a trend-line from June and a small consolidation from this month. The current play is to respect support and with that in mind would-be longs may be interested in establishing what appears to be a solid risk/reward opportunity.

See the video above for the full set of details.


USD/CAD Daily Chart

usd/cad daily chart

USD/CAD Chart by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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