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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