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Canadian Dollar Unchanged

Canadian Dollar Unchanged

2011-03-31 15:41:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_1_body_usdcad.png, Canadian Dollar Unchanged

Prepared by Jamie Saettele

The USDCAD, while it remains above the March low, is vulnerable as long as price is below 9826. I pointed out the monthly chart yesterday in order to convey the importance of the 9700 level. 9710 was the 2008 low and the base from which the USDCAD exploded higher. Still, the trend has been down and remains down until price can hold above the resistance line that has capped price since September.

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