USD/CAD Slipping into Support Zone

By DailyFx | Updated August 14, 2014 AAA

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USD/CAD Slipping into Support Zone

Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0

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

-The manner in which USDCAD turned up from the June low (near long term trendline support) indicates resumption of the long term bull trend.

-The current level (down to 1.0850) may inspire consolidation but near term trend is higher as long as price is above 1.0800 towards 1.1026/52 (Fibonacci and late April high).

--Trading ideas are availabletoJ.S. Trade Desk members.

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