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Canadian Dollar Reaches Trendline

Canadian Dollar Reaches Trendline

2011-02-28 15:54:00
Jsaettele,
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Weekly Candles

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Reaches Trendline

Prepared by Jamie Saettele

After testing trendline resistance that extends off of the August and October highs (and the 50 day SMA), the USDCAD has slipped to multiyear lows and the downward sloping trendline that extends off of the August and October lows. 9710, which was important support in February 2008, is a level of interest. The pivot is now 9959.

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