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USDCAD Technicals for July 15th

USDCAD Technicals for July 15th

2010-07-15 15:46:00
Jamie Saettele, CMT, Sr. Technical Strategist
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 DT-10-07-15-CAD

The larger C wave rally in the USDCAD should eventually exceed 10866. The decline from 10680 has reached the lower end of the support zone (former support near 10300). I expect that the USDCAD will find a secondary low ahead of 10134 (possibly in place now).

Jamie Saettele publishes Daily Technicals every weekday morning, COT analysis (published Friday evenings), technical analysis of currency crosses on Monday, 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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