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Canadian Dollar Forming Secondary Top (USDCAD Low)

Canadian Dollar Forming Secondary Top (USDCAD Low)

2011-03-21 14:39:00
Jsaettele,
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60 Minute Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Forming Secondary Top (USDCAD Low)

Prepared by Jamie Saettele

The USDCAD has spent enough time above its former resistance line and 50 day average to qualify as a legitimate break. Near term, the rally is constructive and 9703 (100% extension) is potential support. I expect a secondary low to form.

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