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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.

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USD/CAD Daily Chart

usd/cad daily chart

USD/CAD Chart by TradingView

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---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.

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