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Canadian Dollar Early Year Focus on 9900

Canadian Dollar Early Year Focus on 9900

2012-01-03 18:33:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar Early Year Focus on 9900

Prepared by Jamie Saettele, CMT

The USDCAD has broken below the support line that extends off of the October and December lows which shifts focus to the December low at 10050 and then the October low at 9890 (reinforced by the 200 day average). Bears are favored below 10211 (Monday high) and 10125/45 is resistance.

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