Canadian Dollar Levels of Interest are 10050 and 10250
Prepared by Jamie Saettele, CMT
A well defined channel has characterized the trend since August and price is nearing the channel support line. The critical level is the October low at 9890. Quite simply, the series of higher highs and higher lows (definition of an uptrend) is intact above that level. Furthermore, do not dismiss the long term potential inverse head and shoulders pattern (underway since April 2010). Near term resistance is 10255.
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