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Canadian Dollar Tests Early November Levels

Canadian Dollar Tests Early November Levels

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar Tests Early November Levels

Prepared by Jamie Saettele, CMT

The USDCAD took out the early month low and is putting the December low to the test (10051). Short term resistance is 10095-10115 and today’s high of 10161 serves as the trend defining level. Downside levels of interest include a channel at 9975, the 200 day average at 9936, and the October low at 9892.

Bottom Line – flat

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