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Canadian Dollar Support (USDCAD Resistance) from Former Support

Canadian Dollar Support (USDCAD Resistance) from Former Support

2011-03-15 14:36:00
Jsaettele,
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Daily Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Support (USDCAD Resistance) from Former Support

Prepared by Jamie Saettele

The USDCAD has spiked through a resistance its resistance line and 50 day average. These metrics had been important resistance for months and the break should be taken seriously. Bulls must still contend with former support (circled), which is now probable resistance. 9800/50 is support.

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