Canadian Dollar Daily Key Reversal

Daily Bars

Prepared by Jamie Saettele, CMT

The USDCAD made a key reversal today (new low, higher close and larger than average range). This is the first bullish key reversal since the December 8th low. Still, price is resisted by a trendline that extends off of the 1/13 and 1/25 highs. A move above 10070 is needed in order to trigger a bullish bias towards 10160/90.

Bottom Line – flat