Advertisement
Australia markets close in 5 hours 36 minutes

  • ALL ORDS

    7,818.70
    -80.20 (-1.02%)
     

  • ASX 200

    7,563.00
    -79.10 (-1.04%)
     

  • AUD/USD

    0.6414
    -0.0011 (-0.17%)
     

  • OIL

    82.50
    -0.23 (-0.28%)
     

  • GOLD

    2,389.60
    -8.40 (-0.35%)
     

  • Bitcoin AUD

    98,397.27
    +3,176.62 (+3.34%)
     

  • CMC Crypto 200

    1,302.51
    +416.97 (+46.62%)
     

  • AUD/EUR

    0.6027
    -0.0004 (-0.06%)
     

  • AUD/NZD

    1.0874
    -0.0001 (-0.01%)
     

  • NZX 50

    11,792.20
    -43.84 (-0.37%)
     

  • NASDAQ

    17,394.31
    -99.31 (-0.57%)
     

  • FTSE

    7,877.05
    +29.06 (+0.37%)
     

  • Dow Jones

    37,775.38
    +22.07 (+0.06%)
     

  • DAX

    17,837.40
    +67.38 (+0.38%)
     

  • Hang Seng

    16,385.87
    +134.03 (+0.82%)
     

  • NIKKEI 225

    37,537.44
    -542.26 (-1.42%)
     

USD/CAD False Breakdown: Heading Higher?

Jamie Saettele, CMT

DailyFX.com -

Daily

USD/CAD False Breakdown: Heading Higher?
USD/CAD False Breakdown: Heading Higher?

Chart Prepared by Jamie Saettele, CMT

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

-The angle of ascent since the 2014 low is extraordinary and the rate has traded into the 1995 and 1996 lows. The next measured level is the 161.8% extension of the March-May range at 1.3399. The 61.8% retracement of the 2002-2007 decline looms at 1.3462.

-Weakness (daily close) below the median line is needed to start looking lower. If you’re trading CAD right now, be aware of what Crude is doing!

For more analysis and trade setups (exact entry and exit), visit SB Trade Desk

ADVERTISEMENT


original source

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.