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USDCAD: Long Entry Sought on Channel Break

USDCAD: Long Entry Sought on Channel Break

2010-03-26 12:29:00
Ilya Spivak, Sr. Currency Strategist
Share:

USD/CAD

Strategy: Pending Long

USDCAD has recovered back above the pivotal 1.0230 level, a previously broken double bottom. Resistance now stands at the top of a falling channel established from February’s swing high, now at 1.0299. We will look for a daily close above this boundary to confirm a bullish breakout and seek to enter long thereafter.

032610 CAD


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