USD/CAD Touches Long Term Fibonacci Retracement at 1.1666
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Chart Prepared by Jamie Saettele, CMT using Marketscope 2.0
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-“The manner in which USDCAD turned up from the June low (near long term trendline support) indicates resumption of the long term bull trend.”
-“USDCAD is consolidating above bullish lines. If the trend is still higher, then the rate should hold these lines”.
-“USDCAD has propelled higher and is probably headed into upper parallels. Levels of interest on the upside are 1.1666 and 1.1723.”
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