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Canadian Dollar Testing Trendline

Canadian Dollar Testing Trendline

2011-02-23 16:18:00
Jsaettele,
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Weekly Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Testing Trendline

Prepared by Jamie Saettele

After trading to a multiyear low the USDCAD is testing a trendline that extends off of the August and October lows (this level is defended by the 50 day SMA). A daily close above the trendline would be significant and shift focus to 10057.

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