USDCAD – Completes False Break Setup | Jun 22

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USDCAD – Bounces Higher from False Break (4hr chart)
Completing our false break setup that we’ve discussed prior, the USDCAD pulled back today into the 1.2220 support area where the prior consolidation occurred from the false break. The pair immediately shot higher and attacked 1.2325 which is just below our first resistance zone.

For now the pair faces an interesting test between 1.2325 and 1.2366 which is a pretty stiff resistance zone from recent PA.

Currently I’m neutral with a slight bullish tune ST while above 1.2220. A break back below here targets 1.2125.

usdcad

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