60 Minute Bars
Prepared by Jamie Saettele
The USDCAD continues to respect its summer range. The June, July, and August highs all occurred within several pips of 10680. Short term channel support has given way. Near term, a drop below 10340 would make the decline from 10675 an impulse. At least a correction back to 10460ish would then be expected.
Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Monday evenings), technical analysis of currency crosseson Wednesday and Friday (Euro and Yen crosses), and intraday trading strategy as market action dictates at the DailyFX Forum. He is the author of Sentiment in the Forex Market. Follow his intraday market commentary and trades at DailyFX Forex Stream. Send requests to receive his reports via email to jsaettele@dailyfx.com.
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