Canadian Dollar Remains Bullish (USDCAD Bearish)
Prepared by Jamie Saettele
The USDCAD was turned back by trendline resistance (and the 50 day average) this week and the USDCAD remains vulnerable. The rally from 9837 is a clear 3 waves and the decline from 10057 is sharp and impulsive. Resistance is from 9935 to 9982 (Fibonacci). If the rally from 9860 can unfold in 5 waves, then the preferred count would treat the decline to 9860 as completion of a flat.
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