USD/CAD Technical Outlook: Chart at Support
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
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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.