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Canadian Dollar Breaks December High (USDCAD Low)

Canadian Dollar Breaks December High (USDCAD Low)

2012-01-25 23:25:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar Breaks December High (USDCAD Low)

Prepared by Jamie Saettele, CMT

The USDCAD break of the December low (10050) shifts focus to channel support and the 200 day average at 9945/60. 10075-10100 is resistance for Thursday. Only a move above 10161 would suggest that a larger recovery is underway.

Bottom Line – flat

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