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Canadian Dollar Makes New High (USDCAD Low)

Canadian Dollar Makes New High (USDCAD Low)

2011-02-04 15:51:00
Jsaettele,
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Daily Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Makes New High (USDCAD Low)

Prepared by Jamie Saettele

The USDCAD was turned back by trendline resistance (and the 50 day average) this week and price has traded at its lowest since May 2008. Focus is on the downward sloping trendline drawn off of the August and October lows as well as 9710 (February 2008 low).

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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