Canadian Dollar Focus on 9500
Prepared by Jamie Saettele
The USDCAD continues to trade right at the downward sloping trendline that extends off of the August and October lows. 9710, which was important support in February 2008, has also been met and has been holding on a daily closing basis. 9775 (the March high thus far) is the bullish pivot. Trading above there would give scope to formation of an important bottom. Additional downside should see a test of the lower support line (circled) near 9500.
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