Canadian Dollar Nearing January High (USDCAD Low)
Prepared by Jamie Saettele
The USDCAD was turned back by trendline resistance (and the 50 day average) in Monday. Former support at 9975 became resistance in January. That level has now failed as resistance again as focus is on the 9837 low. A drop below would shift focus to the downward sloping support line that extends off of the August and October 2010 lows.
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