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Canadian Dollar Trendline of Interest Above 10300

Canadian Dollar Trendline of Interest Above 10300

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar Trendline of Interest Above 10300

Prepared by Jamie Saettele, CMT

I wrote yesterday to “pay attention to the first day of the month high at 10211. That level serves as the pivot.” The USDCAD traded above 10211 which shifts focus higher towards 10270, 10310/30 and the December high at 10423. 10170 is expected support if reached Friday.

Bottom Line – Buy dips into 10170-10225, stop 10100, target 10425

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.