DailyFX.com -

Daily

USD/CAD Recovery Not Inspiring

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

Automate trades with Mirror Trader and see ideas on other USD crosses

-“The month open at 1.0840 continues to be tested. The rate needs to stay above this level (daily close) in order to maintain a constructive stance. If lower levels are seen then the 200 DMA comes into play.” After 1.0840 gave out, USDCAD has plunged. The 200 DMA didn’t do anything and the rate is back to its year open (1.0634). The July 2013 high intersects with long term trendline support at 1.0608 this week.

LEVELS: 1.0587 1.0608 1.0657 | 1.0705 1.0734 1.0763

--Trading specifics (setups with entries, stops, targets) are availabletoJ.S. Trade Desk members.

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Investing

    USD/CAD Finds Support During Wednesday Session

  2. Forex News

    USD/CAD Technical Analysis: Pullback Stalls at Support

  3. Forex News

    Fed Doesn’t Relieve Anxiety, GDP Will Take Shot at Dollar and Equities

  4. Forex News

    USDCAD Plummets Following US Oil Inventories Data

  5. Forex News

    US Dollar Risks to the Downside on a Break of these Key Levels

Trading Center
×

You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!