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USD/CAD Technical Analysis: Short-term Burst in Momentum May Develop

USD/CAD Technical Analysis: Short-term Burst in Momentum May Develop

Paul Robinson, Strategist

USD/CAD could soon make a semi-sharp move once a wedge triggers on the 4-hr. If it triggers higher a squeeze could develop towards 12950, while a trigger to the downside is seen as bringing 12840 into play in short order.

For the full set of details, please see the video above…

USD/CAD Daily Chart

usd/cad daily chart

USD/CAD 4-hr Chart

usd/cad 4-hr chart

USD/CAD Charts 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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