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Dollar / Canadian Dollar Channel Support; 10900 an Objective

Dollar / Canadian Dollar Channel Support; 10900 an Objective

2010-05-24 15:31:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT-10-05-24-CAD

“The rally from 9928 to 10746 is left as a correction but the succeeding decline is also a correction”. Bottom line, the USDCAD rally has accelerated so favor the upside but move risk to 10400. I’ve mentioned the possibility of a flat in recent days. An objective would be 10925 (100% extension). The channel ideally holds here.

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