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Canadian Dollar 200 day Average and Channel at 9940/50

Canadian Dollar 200 day Average and Channel at 9940/50

2012-01-30 22:55:00
Jamie Saettele, CMT, Sr. Technical Strategist
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Daily Bars

eliottWaves_usd-cad_body_usdcad.png, Canadian Dollar 200 day Average and Channel at 9940/50

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 9940 today and the 200 day average is at 9950). Price remains vulnerable as long as today’s high (10070) is intact. CAD GDP is due for release at 8:30 (EST) on Tuesday.

Bottom Line – flat

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