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Canadian Dollar Focus is on 200 Day Average

Canadian Dollar Focus is on 200 Day Average

Jamie Saettele, CMT, Sr. Technical Strategist

Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar Focus is on 200 Day Average

Prepared by Jamie Saettele, CMT

The USDCAD is closing in on important support from the confluence of its 200 day average and channel (channel support is at 9950 today and the 200 day average is at 9945). Resistance for Friday is 10050/85 and a move into there would present a final short opportunity against 10150 for a test of 9950.

Bottom Line – flat

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